Permira fund would purchase Pharmaq
Christian Pérez According to a press release submitted by Permira, the transaction is expected to complete at the end of May, subject to regulatory approvals and customary closing conditions. Morten Kr. Nordstad, CEO of Pharmaq (photo), said that “we take great pride in supplying the aquaculture industry with the most innovative and effective products to enable them to produce safe and healthy seafood. Permira’s significant experience in investing in the food chain and their international reach make them an ideal partner to help us pursue this mission. We are delighted to receive the backing of their funds as we seek to expand our products and market shares in exciting and growing markets.” In turn, Ola Nordquist, Head of Nordic, said: “Pharmaq is a global leader committed to delivering the best aquatic health products and to maintaining and improving the sustainability of the fish farming industry. We are delighted to have the opportunity to back the Pharmaq team and to support the company’s ambitious plans to continue to strengthen its leadership position in its core Norwegian, Chilean and UK markets and to create a strong position in emerging markets that today are largely un-penetrated. Pharmaq’s unique culture is a differentiating factor in terms of product development, speed to market and customer service.” Mubasher Sheikh, Head of Healthcare, said: “Investing in innovative businesses dedicated to improving food quality and safety has been a key focus for our funds in the past few years. With its market leading vaccine technology Pharmaq is in an ideal position to capitalise on the growth of the global aquaculture industry and the rapid increase in demand for the production of healthy and environmentally sustainable seafood.” Citigroup Global Markets Limited acted as financial advisor and Clifford Chance LLP and Advokatfirmaet Grette DA served as legal advisors to the Permira funds. Commerzbank Corporate & Markets acted as financial advisers and Wiersholm and DLA Piper served as legal advisers to Pharmaq.
