PCI Pharma Services, a leading global contract development and manufacturing organization (CDMO) specializing in innovative biotherapies, has secured a strategic investment co-led by Bain Capital and Kohlberg, with significant reinvestment from Mubadala Investment Company. Partners Group is also making a minority investment.
Based in Philadelphia, PCI offers integrated drug development, manufacturing, and packaging services that accelerate product market entry and enhance commercial success. With over 450 successful product launches in the last five years and more than 50 years of experience, PCI effectively delivers life-improving innovations to patients.
The collaboration with Bain Capital and existing investors Kohlberg and Mubadala aims to accelerate PCI’s growth, strengthen customer service, and enable clients to bring biopharmaceutical therapies to market. PCI plans to focus on expanding its service offerings and global presence, including enhancements to its sterile fill-finish capabilities and high-potent manufacturing capacity.
Jefferies served as the lead financial advisor to PCI, with Moelis & Company as co-advisor. Morgan Stanley and BofA Securities advised Bain Capital, and Citi provided financial advisory services to Mubadala. Legal counsel included Paul, Weiss for PCI and Kohlberg, Kirkland & Ellis for Bain Capital, and Skadden, Arps for Mubadala. Ropes & Gray LLP represented Partners Group.
KEY QUOTES:
“PCI has embarked on a purposeful journey to transform itself into a global CDMO by executing its successful growth strategy, providing industry-leading customer experience, and offering innovative and integrated supply chain solutions. I am grateful for the ongoing support of our existing investors and enthusiastically welcome Bain Capital and their deep, global healthcare and life science capabilities and expertise. Together we will grow PCI’s commercial, clinical trial services, and development and manufacturing businesses to meet the future demands of our biopharmaceutical customers.”
Salim Haffar
“PCI’s world-class management team, combined with the support of experienced industry investors, has proven to be a very successful formula. We are delighted for Bain Capital to join PCI’s investor base, yielding an optimal combination aligned to support Salim and the management team to execute on their growth ambitions and value creation pathways.”
Matt Jennings, Chairman of PCI and an Operating Partner of Kohlberg
“Anchored by an innovative, advanced platform that is consistently growing and setting new standards for the industry, PCI Pharma has built a well-deserved reputation as a differentiated partner to leading biopharma companies, ensuring critical therapies reach patients safely and efficiently. We look forward to working alongside Kohlberg to build on this strong foundation.”
Devin O’Reilly, Partner at Bain Capital
“We are excited to leverage our industry expertise and the collaboration of our global healthcare team to support Salim and PCI’s team of experienced industry leaders in the mission to drive innovation in advanced pharmaceutical services that improve patients’ lives and outcomes.”
Andrew Kaplan and Christina Dix, Partners at Bain Capital
“We are honored to have supported PCI’s transformation over the last five years into a leading global CDMO, positioned in the fastest growing markets and known for its proven experience meeting critical customer needs throughout the drug development and commercialization lifecycle. We are thrilled to be partnering with Bain Capital and are aligned to make new investments that will further elevate the company’s capabilities and growth for many years to come.”
Chris Anderson, Senior Partner of Kohlberg
“Our reinvestment in PCI reflects our deep conviction in the company’s mission, leadership, and long-term potential. At this important juncture, we are delighted to welcome Bain Capital, an industry-leading healthcare investor with deep expertise in growing pharma services businesses, as a partner. We look forward to partnering with Bain and Kohlberg, and working closely with PCI’s outstanding management team, as the company enters its next chapter of accelerated growth.”
Mina Hamoodi, Head of Healthcare at Mubadala
“PCI’s market position, reputation, and world-class capabilities strategically position the company to be the partner of choice for customers. We look forward to supporting PCI and the new ownership group in driving the company into its next phase of growth.”
Sujit John, Managing Director, Private Equity Health & Life Vertical, Partners Group
