Montagu Private Equity LLP (“Montagu”), a leading pan-European Private Equity investor, has reached an agreement for the sale of Centor (formerly known as Rexam Healthcare Prescription Retail) to Gerresheimer AG, one of the leading partners to the pharma and healthcare industry worldwide, for a total consideration of $725 million on a cash and debt-free basis.
Based in Perrysburg (Ohio, USA), Centor provides plastic vials and closures used by pharmacies in the US to deliver the exact count of pills to patients. It manufactures more than 1.5 billion vials annually and owns market-leading products such as "1-Clic" and "Screw-Loc". The company is the clear leader in the US prescription retail market, where it has developed strong relationships with its clients over the past decades.
Montagu acquired Centor and Nemera from Rexam PLC in a combined transaction in May 2014.
Marc Haemel, CEO of Nemera, declared:
“We wish every success to Centor in the future, it has been a privilege to have such a great business as part of the Nemera family. We are very excited by the prospects of reinvesting proceeds from this disposal into Nemera’s leading drug-delivery devices business. With these funds, Nemera will further focus on R&D, innovation and manufacturing excellence, continuing to put patients first”.
Completion of the transaction is subject to regulatory approval and expected within 90 days.