Zentiva, a major European pharmaceutical company focused on producing affordable generic medicines, is set to be acquired by GTCR. The transaction marks a significant transition for Zentiva, which has been owned by Advent International since 2018.
During Advent’s ownership, Zentiva underwent a significant transformation, evolving from a carved-out division of Sanofi into a standalone business with expanded manufacturing capabilities, a broader product portfolio, and a strong focus on research and development.
Under Advent, Zentiva more than doubled its revenue and earnings, driven by organic growth and strategic acquisitions. The company now serves over 100 million people across more than 30 countries, supported by four wholly owned manufacturing sites and a vast network of external partners. Its success has been built on operational excellence and a commitment to delivering high-quality, affordable medicines to patients throughout Europe.
GTCR brings a long history of investing in healthcare companies and has completed numerous acquisitions in the pharmaceutical space over the past two decades. With its focus on partnering with management teams to drive innovation and scale, GTCR is well-positioned to support Zentiva’s next phase of growth. The firm plans to work closely with Zentiva’s leadership to continue expanding the company’s reach, enhancing its product offerings, and pursuing new opportunities across the generics market.
The acquisition is subject to regulatory approvals and is expected to close in early 2026. Zentiva will continue operating under its current leadership, with CEO Steffen Saltofte remaining at the helm. Both Advent and GTCR were supported by leading financial and legal advisors throughout the transaction process.
The deal is subject to customary regulatory approvals, and its closing is expected to take place in early 2026.
Advisors: Advent was advised by Goldman Sachs and PJT Partners as lead financial advisors and Freshfields as lead legal advisor. GTCR was advised by Barclays Bank, acting through its Investment Bank, and BNP Paribas as lead financial advisors, Morgan Stanley as a financial advisor, and Kirkland & Ellis LLP as legal advisor.
KEY QUOTES:
“Advent has been an exceptional partner in Zentiva’s transformation journey. Their commitment to investing in our capabilities, pipeline, and manufacturing base has been instrumental in our growth and in ensuring we can better serve millions of patients across Europe. As we move forward with GTCR, we are excited to build on this momentum to ensure continued growth and expand access to high-quality, affordable medicines.”
Steffen Saltofte, CEO, Zentiva
“When we acquired Zentiva from Sanofi in 2018, we saw the opportunity to build an independent European leader in affordable medicines. By actively working with the management team and investing in the company’s capabilities, Zentiva has more than doubled its revenue and EBITDA, establishing a strong foundation for the future. Zentiva exemplifies Advent’s ability to carve out and transform non-core divisions into thriving, market-leading businesses. We are proud of what has been achieved and confident Zentiva will continue to excel under GTCR’s ownership.”
Tom Allen, Managing Director at Advent
“We are delighted to partner with Steffen Saltofte and the talented Zentiva management team for its next phase of growth. The Company has an impressive track record of organic and inorganic expansion, a strong pipeline, and a highly efficient manufacturing platform, with a critical focus on delivering high-value medicines to patients across Europe. We look forward to supporting Zentiva as it continues to deliver on its mission.”
Sean Cunningham, Managing Director and Head of Healthcare at GTCR
