Arlington Capital Partners, a Washington D.C.-area private investment firm specializing in government-regulated industries, announced a majority investment in Afton Scientific, a leading contract, development, and manufacturing organization (CDMO) dedicated to the sterile manufacturing of injectable pharmaceuticals.
Based in Charlottesville, VA, Afton specializes in sterile injectable drug manufacturing and providing pre-sterilized vials and kits. And Afton performs aseptic fill-finish for products ranging from pre-clinical through commercial-scale manufacturing across various therapeutic areas. Tom Thorpe, founder and CEO of Afton, will continue to lead the company and remain a material shareholder going forward.
Goodwin Procter served as legal advisor to Arlington, Bourne Partners as financial advisor, and Greenberg Traurig as legal counsel to Afton in the transaction.
KEY QUOTES:
“The demand for biologics is as robust as ever, contributing to a continued imbalance in supply and demand for aseptic CDMO services. Afton’s exemplary quality record and 30+ year history in manufacturing high value pharmaceuticals and biologics, combined with Arlington’s experience scaling pharmaceutical services businesses, provides a strong platform from which to further grow and address this market need.”
– Malcolm Little, a Partner at Arlington Capital Partners
“Partnering with Arlington is a pivotal step in Afton’s growth trajectory. Their long history investing in pharmaceutical services and expertise in regulated industries makes Arlington the right partner to support our capacity growth and service offering expansion. The strong tailwinds in our core markets as well as the increased focus on reshoring critical pharmaceutical manufacturing make it an ideal time for us to enter the next stage in Afton’s progression.”
– Tom Thorpe, CEO of Afton
“Afton’s highly differentiated expertise in manufacturing biologics and other high-value modalities along with their relentless focus on quality has led to lasting relationships with a blue-chip customer base. We look forward to partnering with Tom and the entire Afton team to facilitate their expansion in the emerging biotech hub of Charlottesville, Virginia.”
– Henry Albers, a Principal at Arlington Capital Partners
