European mid-market private equity firm HgCapital has put its stake in generic drug maker Mercury Pharma up for sale less than two and a half years after its initial buyout.
The company, which was formerly known as Goldshield, was founded in 1991 and floated on the London Stock Exchange in 1998 before being taken private by HgCapital in December 2009 for £178m.
The firm is understood to be asking around double the initial purchase price, the Financial Times reported over the weekend.
Last week HgCapital bought German submetering company Qundis Group from financial investor Capcellence.
The acquisition of Qundis represents a continuation of HgCapital’s sector-driven investment strategy, according to Justin von Simson, head of HgCapital’s industrials team and its Munich office.
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