CPE News (8/19/2019) – Caisse de dépôt et placement du Québec (CDPQ) has invested US $5000 million for a minority stake in Sanfer, one of Mexico’s leading independent pharmaceutical companies.
CDPQ joins General Atlantic which acquired a minority stake in Sanfer in 2015 and will retain a significant minority stake.
The transaction is expected to close later this year.
Sanfer is a leading Mexican pharmaceutical company with presence in over 25 countries across Latin America. Sanfer is majority-owned by family firm K.R. Amtmann, S.A. which acquired Sanfer in 1957.
Sanfer had previously considered of raising capital by way of initial public offering (IPO).
photo credit: Sanfer
Sanfer receives USD $500 million from CDPQ to fund strategic growth across Latin America
Sanfer, one of Mexico’s leading independent pharmaceutical companies, today announced it has obtained a USD $500 million minority investment from Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor. The investment, one of the largest minority private equity transactions in Mexico, will enable Sanfer to execute on its continued expansion plans across Mexico and the broader Latin American region.
Over the past two decades, Sanfer has had a longstanding commitment to offering innovative and high-quality pharmaceutical products to its customers. Over this period, the Company has closed over 100 brand acquisitions, acquired 8 pharmaceutical companies and launched over 100 new products across Mexico and Latin America. Sanfer intends to use this new capital to accelerate its growth, both organic and through further acquisitions, across the region.
Ricardo Amtmann A., Chairman and CEO of Sanfer, said: “The addition of CDPQ as a strategic partner marks an important moment for Sanfer as we look to further strengthen our position across Mexico and Latin America. CDPQ, together with our existing partner General Atlantic, will contribute invaluable expertise as we pursue strategic growth opportunities that will allow Sanfer to meaningfully scale the business and deepen our reach with customers. We are honored to have CDPQ’s trust in our Company and to see their commitment to the Latin American region.”
Stephane Etroy, Executive Vice-President and Head of Private Equity at CDPQ, said: “Our partnership with Sanfer is an opportunity for us to grow our exposure to targeted countries in Latin America, while investing in a key sector of these economies. We are proud to be partnering with a company of Sanfer’s caliber, alongside General Atlantic. We are confident in the pharmaceutical industry’s long-term outlook and look forward to working with Sanfer’s leadership team to capitalize on growth opportunities.”
Martín Escobari, General Atlantic Managing Director and Head of Latin America, commented: “Our five-year strategic partnership with Sanfer has produced strong results as the Company, under the dynamic leadership of Ricardo, has focused on growth and product development. Sanfer is now uniquely positioned to capture an even greater share of the pharmaceutical industry in the region. CDPQ shares GA’s long-term vision for the Company and we welcome them as partners in this next exciting chapter for Sanfer.”
GA will retain a significant minority stake in Sanfer, and the transaction is expected to close later this year. This investment is subject to customary regulatory approvals. Additional terms were not disclosed.
Sanfer is a leading Mexican pharmaceutical company with presence in over 25 countries across Latin America. For over 78 years, Sanfer has provided top quality and innovative pharmaceutical solutions to physicians and consumers by manufacturing and effectively promoting human and animal health products across over ten therapeutic fields. Sanfer has consolidated as one of the leading Latin American Pharmaceutical companies maintaining its high potential of growth through its own product development, acquisitions and its strategic partnerships with Global Pharmaceutical Companies. For more information, please visit www.sanfer.com.mx.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2019, it held CAD 326.7 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
ABOUT GENERAL ATLANTIC
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 150 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.
– 30 –
For more information
+1 514 847-5493
RICARDO AMTMANN LOPEZ
+1 646 710-5626
+1 212 715-4038