Lonza Group agreed to acquire Capsugel from KKR for $5.5B in cash, including refinancing of ~$2B Capsugel debt. EV/EBITDA multiple ~15.1x. Strategic intent: create leading integrated solutions provider in pharma and consumer healthcare/nutrition. Expected ~CHF 30M operating synergies plus ~CHF 15M tax synergies. Completed July 6, 2017.
Did it work? Outcome assessment
Strategic verdict
Partially Achieved
Financial impact
Accretive
Pipeline outcome
Assets Advanced
Assessment window: 5yr post-close.
Key facts
AnnouncedDec 15, 2016
ClosedJul 06, 2017
Deal value$5.5B
Deal typeAcquisition/Merger
Therapeutic areaN/A (CDMO / dosage forms)
IndicationsN/A (CDMO / dosage forms)
Key assetsCapsule manufacturing and dosage form solutions platform (hard capsules, lipid multiparticulates, dry powder inhalation, softgel)
MechanismPharmaceutical capsule and dosage form manufacturing