EQT Credit, through its Mid-Market investment strategy, is pleased to announce that it has provided the financing to support Keensight Capital and ERES’ (the “Shareholders”) investment in Biovian (or the “Company”), a leading European player in contract manufacturing and development of biopharmaceuticals. The Company offers outsourcing services in process development and contract manufacturing for small and medium size biotechnology firms and has deep industry expertise across different key biological processes.
Founded in 2003 and based in Turku, Finland, Biovian has 70 employees and a strong offering in key stages of the drug development lifecycle. With main operations in UK, EU, US and South Korea, the Company benefits from a strong Biotech pipeline, fueled by new biologic products progressively replacing traditional pharma.
EQT Credit, as sole lender, is providing a unitranche facility to back the Shareholders acquisition of Biovian.
Paul Johnson, Partner at EQT Partners’ Credit team, Investment Advisor to EQT Credit, commented: ”Biovian has a stable business model and a strong backlog supported by its entrenched relationships with customers. EQT Credit is pleased to provide a financing solution for Biovian and look forward to supporting the Company and its management team under the Shareholders new ownership”.
Paul Johnson, Partner at EQT Partners, Investment Advisor to EQT Mid-Market Credit, +44 203 372 94 24
Alexandre Hökfelt, Director at EQT Partners, Investment Advisor to EQT Mid-Market Credit, +44 203 372 94 14
EQT Press Office, +46 8 506 55 334, [email protected]
About EQT Credit
EQT Credit invests through three complementary strategies: Senior Debt, Mid-Market Credit (direct lending) and Credit Opportunities. Since inception, EQT Credit has invested in excess of EUR 5 billion in over 160 companies. EQT Credit’s direct lending strategy seeks to provide flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. These businesses may be privately-owned corporates seeking alternative funding to grow or be the subject of private equity-led acquisitions or refinancings.
EQT is a leading alternative investments firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More information: www.eqtpartners.com