Synerlab acquires Alcala Farma in Spain and pursues its consolidation strategy in Europe

November 20, 2015

Synerlab, a leading pharmaceutical manufacturer backed by 21 Partners, acquired Alcala Farma, a prominent Spanish contract development and manufacturing organization (CDMO).

Alcala Farma specializes in the development of proprietary formulations, representing nearly 40% of its total €M 25 in sales and a key lever for future growth. Its current portfolio of pharmaceutical drugs comes in multiple dosage forms including sterile products, oral liquids, oral solids and topical products. Manufacturing is covered by two production sites in Spain, with one specializing in soft gelatin capsules and the other covering more than 250 formulations and 3,500 references.

For Synerlab, which including Alcala Farma, has sales of nearly €M 130 and over 1,000 employees across seven production sites, this major build-up represents a first step in the group’s European development. In addition to increasing Synerlab’s revenue base by over 20%, the acquisition sees the proportion of sales outside of France rise from 30 to 45%.

Alcala Farma reinforces Synerlab’s position through:
• Access to the growing CDMO market
• Longstanding relationship with key historic clients and a positive dynamic with over 30 new contracts signed since 2013
• A large and complementary product portfolio, notably soft gel caps and stick packs
• Proven development capabilities for which Alcala Farma holds 40 proprietary dossiers
• A high-quality management team involved in the full project and reinvesting in the Group

Pierre Banzet, CEO of Synerlab, said: “This acquisition positions Synerlab as a leading European specialist pharmaceutical manufacturer. In addition to Alcala Farma’s complementary product portfolio and development capabilities, commercial synergies, relationships and sharing of resources will allow us to offer clients a more comprehensive service. We are delighted to welcome Alcala Farma’s professional and talented team to our group.”

Gérard Pluvinet, Founding Managing Partner and Jacques Rossignol, Managing Partner, of 21 Partners added: “With Alcala Farma, Synerlab has completed its first European acquisition and further opportunities outside of France are being closely reviewed. We will continue to support Synerlab’s team both financially and operationally by leveraging our proven expertise as a partner for the internationalization and growth of French companies.” 
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