Equistone Partners Europe sells Uetikon to Novacap

Funds managed by Equistone Partners Europe have sold their majority shareholding in CU CHEMIE UETIKON to the French pharmaceuticals and chemicals company Novacap. The parties agreed not to disclose the selling price. The transaction is still subject to the agreement of the relevant competition authorities.

Uetikon, with its registered office in Lahr, Baden-Württemberg, manufactures specialised fine chemicals and pharmaceutical ingredients. The company specialises in the custom synthesis of complex multi-step intermediates and pharmaceutical substances. With one of the most modern global multi-purpose production facilities, Uetikon provides services to leading pharmaceutical companies across the globe.

“Since taking a shareholding in Uetikon we have specifically enhanced and expanded the management team and have invested in a sustainable strategy for growth. Today, Uetikon is in an excellent position as a manufacturer of pharmaceutical substances and custom syntheses and is a reliable partner for its globally-active customers. We wish Uetikon’s CEO Thomas Seeler and his team all the best for the future and much success in the further development of the company,” commented Equistone’s Managing Director, Switzerland, Philippe Stüdi.

Equistone had acquired a majority shareholding in Uetikon as part of a management buy-out in November 2011. Since then, Uetikon has evolved into an internationally recognised company with an annual turnover of around 40 million Euros (2014) and around 135 employees.

“The collaboration with Equistone was underpinned from the start by mutual respect which helped make our shared success possible. Since the acquisition in 2011, Equistone has consistently given us valuable input that has helped drive our growth. As the new owner, Novacap will now be able to build on this foundation in order to conquer new market segments together with Uetikon.” said Uetikon CEO Thomas Seeler.

For Equistone, the transaction was led by Philippe Stüdi, David Oliver Zahnd and Dr. Peter Hammermann. Equistone was advised by Lazard (M&A), P+P Pöllath & Partners (Legal), KPMG (Financial & Tax), Novumed (Commercial Vendor Due Diligence) and Ecosens (Environmental Vendor Due Diligence).