(Reuters) -Bain Capital is in talks to buy contract drug manufacturer PCI Pharma Services at a valuation of $10 billion, Bloomberg News reported on Friday, citing people familiar with the matter. The buyout firm is in discussions with PCI’s backers — Kohlberg & Co, Mubadala Investment Co and Partners Group Holding AG — about a […]
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Bain Capital to buy PCI Pharma at $10 billion valuation, Bloomberg News reports
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(Reuters) -Bain Capital is in talks to buy contract drug manufacturer PCI Pharma Services at a valuation of $10 billion, Bloomberg News reported on Friday, citing people familiar with the matter.
The buyout firm is in discussions with PCI’s backers — Kohlberg & Co, Mubadala Investment Co and Partners Group Holding AG — about a deal for a majority stake of the Philadelphia-based drug services provider, the report said.
A representative for PCI declined to comment.
PCI is a contractor that does fill-finish work involving the filling and packaging of syringes and injection pens in sterile conditions for drugmakers. It also provides tools and services that help in research and development of new drugs.
According to the report, Bain has reached out to a variety of potential co-investors, including sovereign wealth funds, about helping to finance the equity portion of a deal.
(Reporting by Christy Santhosh in Bengaluru; Editing by Alan Barona)