Bain Capital and Kohlberg Lead Strategic Investment in PCI Pharma Services

Kohlberg & Mubadala Acquire Majority Stake in PCI Pharma Services

December 1, 2020

Healthcare Services

Private equity firm Kohlberg & Company acquired a majority stake in PCI Pharma Services, with Mubadala Investment Company joining as a significant investor and Partners Group retaining a minority stake. The deal (signed August 24, 2020 and closed December 1, 2020) positions PCI to expand capabilities—such as sterile fill/finish and high-potency manufacturing—and further geographic reach while continuing to serve pharmaceutical and biopharmaceutical customers from its Philadelphia headquarters.

Bain Capital to Acquire Mitsubishi Tanabe Pharma Corporation

February 7, 2025

Pharmaceuticals

Bain Capital has signed a definitive agreement to acquire Mitsubishi Tanabe Pharma Corporation (MTPC) in a carve-out from Mitsubishi Chemical Group Corporation for approximately 510 billion JPY (about $3.3 billion). The deal, led by Bain’s Private Equity teams in Asia and North America together with its Life Sciences group, will create an independent, standalone Japanese pharma platform focused on drug discovery and development across immunology, CNS, vaccines, diabetes and other priority areas; the transaction is expected to close in Q3 2025.

Celestica Acquires PCI Limited from Platinum Equity

September 21, 2021

Manufacturing

Celestica Inc. agreed to acquire PCI Limited, a Singapore-based electronics manufacturing services (EMS) provider, from Platinum Equity for $306 million in cash. The deal, announced September 21, 2021, expands Celestica's manufacturing and design capabilities across Asia and is expected to close in mid-Q4 2021 subject to regulatory approvals.

PCI Pharma Services Acquires Ajinomoto Althea

May 1, 2025

Healthcare Services

PCI Pharma Services has completed the acquisition of Ajinomoto Althea, Inc., a US-based sterile fill-finish CDMO previously owned by Ajinomoto Co., Inc. The deal expands PCI’s US sterile manufacturing footprint in San Diego—adding prefilled syringe and cartridge aseptic capabilities, lyophilization and high-potent vial filling (including ADC support)—and is part of a multi-year, roughly $1 billion investment strategy to broaden advanced drug delivery and fill‑finish capacity.

CPS Capital Makes Growth Investment in PharmaSmart International

July 12, 2021

Medical Devices

Toronto-based private equity firm CPS Capital made a strategic growth investment in PharmaSmart International alongside the company’s existing management team. The financing (which included term debt from FirePower Capital and Nicola Wealth) will fund roll‑out of PharmaSmart’s PS-2000D health kiosk platform and accelerate expansion across Canada and the United States.

Jabil Acquires Pharmaceutics International (Pii)

February 6, 2025

Pharmaceuticals

Jabil has acquired Pharmaceutics International (Pii), a Hunt Valley, Maryland-based contract development and manufacturing organization (CDMO) that provides aseptic filling, lyophilization and oral solid dose manufacturing. The all-cash transaction represents an exit for a consortium led by Signet Healthcare Partners, Athyrium Capital Management, Hildred Capital and Pharmascience Inc., and brings Pii’s ~300+ employees and four-site campus into Jabil’s Pharmaceutical Solutions offering to expand its drug development and manufacturing capabilities.