Famar, a portfolio company of the private equity firm of MidEuropa, is set to acquire a sterile manufacturing facility in Homburg, Germany, from MiP Pharma as part of the Greek CDMO’s plan to expand its European operations.
The deal is slated to give Famar production capabilities for "high-value dosage forms" as well as aseptic and lyophilized fill-finish capacity, MidEuropa said in a May 13 press release.
Financial details of the purchase weren’t disclosed.
When completed, the deal will boost Famar's European production footprint to seven facilities. The company already operates four sites in Greece and one each in Spain and Italy.
“There is scarcity in high-quality sterile infrastructure in Europe and the investment will provide us immediate capacity for our growing business,” Konstantinos Rengis, Famar’s chief executive, said in the release. “The Homburg facility offers us the opportunity to expand our business with international clients.”
News of the deal comes almost a year after MidEuropa agreed last July to acquire a majority stake in Famar from ECM Partners and Metric Capital Partners for an undisclosed price. At the time, Famar had 1,900 employees.
Famar’s current growth trajectory is in stark contrast to where the CDMO was prior to the global COVID-19 pandemic. Back in October 2019, Famar was struggling financially and sold off half of its then network of 11 sites to French CDMO Delpharma in a deal worth more than $250 million.
That sale included French facilities in Orléans (Loiret), Aigle (Orne) and St-Rémy-sur-Avre (Eure-et-Loire), along with Famar’s site in Bladel in the Netherlands and its Pointe-Claire site in Quebec, Canada.