Sentinel Capital Partners, a private equity firm that invests in promising companies in the lower midmarket, has announced the sale of WellSpring Pharma Services, a North American pharmaceutical contract manufacturing organization.
Terms of the deal were not disclosed.
WellSpring Pharma Services provides outsourced manufacturing and contract development services to emerging-growth, mid-sized, and large pharmaceutical and biotechnology clients in the US and Canada.
WellSpring is equipped to manufacture prescription drug products in virtually all non-sterile finished dosage forms and also provides primary and secondary packaging services. WellSpring also offers formulation, tech transfer, and analytical chemistry services to its clients.
WellSpring has particular strength working with clients that need flexibility, customization, personalized attention, and technical expertise.
Sentinel partner John Van Sickle said: “Trends in the pharmaceutical industry have continued to drive demand for WellSpring’s manufacturing services.
“WellSpring addresses this demand with an industry-recognized commitment to quality and regulatory compliance.”
At the outset of Sentinel’s 2011 investment, WellSpring consisted of three divisions: a consumer portfolio of over-the-counter health and personal care products; a portfolio of specialty prescription drugs; and a contract manufacturer of pharmaceutical products.
Under Sentinel’s ownership, WellSpring sharpened its focus by divesting its specialty Rx portfolio and bolstering the market position of its consumer healthcare portfolio with three OTC add-ons.
WellSpring then sold its consumer healthcare business in 2017. The sale of WellSpring Pharma Services completes Sentinel’s final exit from its original WellSpring investment.
The past 12 months have been highly productive for Sentinel. Besides the sale of WellSpring Pharma Services, Sentinel sold Huddle House, a franchisor of family dining restaurants in the Southeast; PlayCore, the leading North American supplier of play, park, and recreation products; and WellSpring Consumer Healthcare, a North American marketer of OTC health brands.
Sentinel Capital Partners specializes in buying and building lower midmarket companies in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses.
Source: Company Press Release