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Carlyle sells Qualicaps to Mitsubishi Chemical for $655m

27 Dec 2012

drug pill pharma health medicGlobal private equity investor The Carlyle Group has agreed to sell Japanese drug capsule maker Qualicaps to Mitsubishi Chemical in a deal worth JPY55.8bn ($655m).

The firm picked up Qualicaps through a buyout deal in October 2005 and refinanced the company two years later.

Qualicaps provides empty two-piece hard capsules and pharmaceutical processing equipment, and is the largest pharmaceutical capsule provider in Japan.

Carlyle managing director Takaomi Tomioka said, “Qualicaps is an excellent example of Carlyle’s global value creation.

“In 2005, we had the vision to create one of the world’s largest pharmaceutical capsule providers with a truly integrated global management platform.

“Over the past seven years, we have supported Qualicaps in various aspects such as building a strong management team, improving manufacturing quality, and executing strategic add-on acquisitions.

“Qualicaps has been recognized as a business partner by global pharmaceutical giants and has delivered outstanding growth.”

The company said that during Carlyle’s ownership its revenue and EBITDA had increased by more than 50 per cent and 120 per cent respectively.

Earlier this month Carlyle completed its first Japanese IPO of the year by listing restaurant operator Chimney, following two failed attempts with other companies.

The firm offered 7.9 million shares in Chimney, or 45 per cent of its holding, plus a seven per cent over-allotment.

Chimney specialises in Japanese style pub-restaurants known as Izakaya, operating under main brand names such as Hananomai and Sakanaya Dojo.

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