Essential Pharma Recapitalizes with €900 Million Deal
Deal News | Dec 17, 2024 | Travers Smith
Travers Smith LLP played a crucial legal role in advising the senior management team of Essential Pharma on a significant €900 million recapitalization. This major financial restructuring involved a single-asset Continuation Vehicle led by Gyrus Capital with investment from AlpInvest, accompanied by a strategic financing arrangement with Sixth Street. The recapitalization boosts Essential Pharma's capabilities, allowing them to expand their portfolio and advance in the field of niche pharmaceutical products, particularly those targeting rare and established diseases. The legal advisory from Travers Smith was directed by Alex Dixon, with notable contributions from Jaryd Davidson, Matthew Hoyle, Liam Carrington, Hannah Manning, and Ross McGregor. This strategic move underscores Essential Pharma's mission to maintain patient access to essential medicines.
Sectors
- Pharmaceuticals
- Private Equity
Geography
- Global – Essential Pharma is described as a global specialty pharmaceutical business, indicating its operations span multiple countries.
Industry
- Pharmaceuticals – Essential Pharma operates within the pharmaceuticals sector, focusing on niche and branded products for rare and established diseases.
- Private Equity – The involvement of Gyrus Capital, a private equity firm, highlights the investment and financing activities typical of the private equity industry.
Financials
- €900 million – The total value of the recapitalization transaction for Essential Pharma.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Essential Pharma | Target company | Company | A global specialty pharmaceutical company focusing on niche, branded pharmaceutical products. |
| Travers Smith LLP | Legal advisor | Company | Provided legal advice to Essential Pharma's senior management for the recapitalization deal. |
| Gyrus Capital | Bidding Company/Buying Entity | Company | Led the €900 million recapitalization through a Continuation Vehicle. |
| AlpInvest | Investor | Company | Participated as an investor in the recapitalization led by Gyrus Capital. |
| Sixth Street | Financial provider | Company | Provided a new strategic financing facility as part of the recapitalization. |