PAG, an Asia-focused private equity firm, will acquire a controlling stake in Acme Formulation, a contract development and manufacturing outsourcing (CDMO) company. PAG will invest USD 145 million (Rs 1,054 crore) for the stake.
Acme has a great reputation for high-quality manufacturing, as well as a leading presence in attractive markets including sterile injectables
PAG is investing out of its USD six billion Asia fund. Following the Acme acquisition, PAG will have completed investments of more than half a billion dollars in India.
PAG’s deals include investments in Edelweiss Wealth Management, one of India’s largest wealth advisory firms, and Anjan Drug, a leading manufacturer of active pharmaceutical ingredients (APIs).