Change of owner at Seqens?

Eurazeo has announced that it has entered into exclusive discussions to sell its stake in French-based CDMO Seqens to funds advised by SK Capital Partners and its existing French shareholders, Mérieux Equity Partners.

Seqens commented that SK Capital’s involvement could enhance its position in the production of APIs, pharmaceutical intermediates and speciality ingredients. SK has already owned API manufacturer Wavelength Pharmaceuticals since 2017.

“A combination of the two companies’ activities could increase the group’s industrial footprint, its product and technology portfolio, while preserving the know-how and skills of both companies for the benefit of their respective customers,” it said.

Seqens was taken over by Eurazeo and its partners in June 2016. Since then, it has grown by acquisition and investment into a global player, with about 3,000 employees at 19 industrial sites and seven R&D centres, turning over about €1 billion/year.

The deal would close by the end of 2021, subject to standard conditions. Nov Santé Actions Non Cotées, the fund launched at the initiative of the French Insurance Federation and Caisse des Dépôts as part of their sustainable recovery investment programme for France, would also invest in Seqens.