Private Equity Fund Investments
Multiples PE exits drug maker Encube in $120-M deal led by Quadria Capital
Mumbai-based drugs maker Encube Ethicals has raised USD 100-120 million from healthcare-focused private equity firm Quadria Capital and co-investors including Gulf Islamic Investments. The funding round will see existing investor Multiples PE exit the company, which is now valued at around USD 800 million. The deal involves USD 15-25 million of primary capital that the company will use to launch a new line of products. The promoters have also sold some shares as part of the deal, which will leave Quadria (and its co-investors) with an almost 25% stake. Encube Ethicals offers contract development and manufacturing (CDMO) of topical semi-solid dosage formulations including ointments, creams, solutions and lotions for global players. It also has its own line of products.
From the Venture Intelligence PE-VC Deal Database: In Jul-16, Multiples PE had invested over INR 300 crore in Encube. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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