Partners Group Holding AG is nearing a deal to acquire a minority stake in UK pharmaceutical manufacturing services provider Sterling Pharma Solutions, people with knowledge of the matter said.
(Bloomberg) — Partners Group Holding AG is nearing a deal to acquire a minority stake in UK pharmaceutical manufacturing services provider Sterling Pharma Solutions, people with knowledge of the matter said.
The Swiss investment group has emerged as the frontrunner in an auction process for the stake, according to the people. A deal is likely to value Sterling Pharma, which is owned by private equity firm GHO Capital, at about £1 billion ($1.2 billion) or more, they said.
Deliberations are ongoing and talks could still be delayed or falter, the people said, asking not to be identified discussing confidential information. A representative for Partners Group declined to comment, while a spokesperson for GHO Capital didn’t immediately respond to requests for comment.
Based near Newcastle in northeast England, Sterling Pharma provides active pharmaceutical ingredient development and manufacturing services to the global biopharmaceuticals industry. It runs five facilities across the UK, US and Ireland, employing more than 1,300 people, according to its website.
Investors have been keen to expand in the sector as more big drugmakers outsource such functions. GHO invested in Sterling Pharma in 2019.
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