Everstone acquires Rubicon for ~220 crore

Private equity firm Everstone Group has bought a controlling 70 per cent stake in Mumbai-based Rubicon Research, which is into drug delivery technology, for $33 million (~220 crore). The deal involves a $20-million direct investment, acquiring the stakes from Kotak Private Equity and a private investor. Rubicon, with its proprietary technology solutions, is an outsourcing partner to the global pharma industry.