Noden Pharma the right medicine in $48.25m deal
STANLEY Capital, a London-based private equity firm, has acquired Dublinheadquartered pharmaceuticals company Noden Pharma from US-listed PDL BioPharma in a deal worth up to $48.25m (€40m).
Noden, which is headed by Alan Markey, is a global speciality pharmaceutical company focused on acquiring prescription medicines across a broad range of therapeutic areas in international markets.
“Entering into this transaction for the sale of Noden to Stanley Capital represents another significant step in the execution of our monetization strategy,” commented PDL’s president and CEO Dominique Monnet.
Simon Cottle, a co-founder of Stanley Capital, said: “The acquisition of Noden is the culmination of years of thematic research into the speciality pharmaceuticals sector, which identified the company as a strong buy and build platform.
“We look forward to working with Noden’s excellent management team and our industry advisers to build the company into a leading pharma platform.”
According to Private Equity News, Cottle, a former Ardian and Hg executive, launched Stanley Capital in 2019 alongside Patrick Hargutt, a former Centerbridge Partners executive, and James Brooks, who joined from renewable energy developer Lightsource BP.
Based in London, Stanley Capital seeks to invest in the technology, healthcare and sustainability sectors, targeting businesses with enterprise values of between $250m and $2.5bn.