Advent Intl, a leading global private equity firm to invest Rs 1750 crore in Hyderabad Pharma
Advent International, one of the world’s largest and most experienced private equity firms, would spend Rs 1750 crore in Hyderabad by acquiring controlling holdings in RA Chem Pharma Ltd and Avra Laboratories. Advent is focused on the life sciences sector, and Telangana’s infrastructure is vital to their goals. On Saturday, Telangana Minister for IT and Industries KT Rama Rao met with Advent International’s Managing Partner, John Maldonado, in the United States to discuss Advent’s strategy and objectives for the healthcare and pharmaceutical sectors in India and Hyderabad. Rao, who is presently on a tour of the United States to solicit investment, praised Advent’s strong investment plans for Life Sciences and Pharma Companies in Hyderabad during the meeting.
The Telangana government would work with Advent to promote and propose additional potential investment prospects for the company to consider, as well as provide all required assistance to help Advent expand its presence in Hyderabad, according to the Minister. From Bengaluru-based Micro Labs Ltd, the private equity company has purchased a majority position in Hyderabad-based RA Chem Pharma Ltd. RA Chem, based in Hyderabad, is a vertically-integrated Active Pharmaceutical Ingredient company that also produces pellets, B2B formulations, and conducts clinical trials.
Avra Laboratories has also been bought by Advent International, which now owns a majority share in the company. Avra Labs is a contract manufacturing and research company based in Hyderabad that specialises in active medicinal components.
Advent is acquiring RA Chem Pharma Ltd and Avra labs for a total of 23 million dollars (INR Rs 1750 crore). Six manufacturing divisions and three R&D units employ over 2500 workers across the two organisations.