Tailwind Capital-backed drug maker VersaPharm is set to be bought by Akorn in a $440m all-cash deal.
The company has a pipeline of more than 20 products targeting niche therapeutics categories including dermatology, tuberculosis and haemophilia.
Tailwind, which is currently raising a $750m-targeting Fund II, has helped VersaPharm grow its EBITDA from $8m to $50m during its ownership.
VersaPharm CEO Kevin Connelly said, “With the support of our equity partner, Tailwind Capital, and through the efforts of our dedicated employees, VersaPharm has generated exceptional growth since we acquired the company in 2007.
“Akorn is a great fit for VersaPharm to realize the full potential of our dermatology-focused product pipeline and continue to meet the needs of our customers.”
The deal is expected to close in the third quarter of this year.
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