Signet Healthcare Partners, Athyrium Capital Management, Hildred Capital and Pharmascience Inc. Announce Exit from Pharmaceutics International, Inc.

Pharmaceutics International, Inc. (Pii) has been acquired by Jabil Inc. (NYSE: JBL) in an all-cash transaction for an undisclosed amount.

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02/05/2025 - 04:18 PM

NEW YORK--(BUSINESS WIRE)-- A consortium of investors led by Signet Healthcare Partners, Athyrium Capital Management, Hildred Capital and Pharmascience Inc. today announced they have exited their equity stake in Pharmaceutics International, Inc. (“Pii”), a contract development and manufacturing organization, and have closed on an undisclosed all-cash transaction to sell the company to Jabil Inc. (NYSE: JBL), a global leader in engineering, manufacturing, and supply chain solutions.

Pii is a contract development and manufacturing business, based in Hunt Valley, Maryland, that specializes in the production of aseptic and sterile injectable pharmaceutical products. The company has been offering development and manufacturing services to pharmaceutical clients, for both NDA and aNDA products, for nearly three decades. Pii has formulation capabilities across virtually all dosage forms and is a sought-after partner for the most complex formulations. The company develops and manufactures drug products for its clients on a fee-for-service basis, and for its marketing partners on a profit-share or royalty basis.

“We have greatly valued our partnership with Signet, Athyrium, Hildred and Pharmascience over the past decade,” said John Fowler, President and CEO of Pii. “Their collective operating expertise and breadth of experience across the healthcare ecosystem were invaluable in helping Pii strategically scale and enhance and expand our suite of capabilities. The firms’ Operating Partners played a critical role, working closely with management over an extended period of time to drive value at the company. All of us at Pii appreciate their long-standing commitment and support over the years. We are excited about our future and looking forward to building on our momentum and success with our new partners at Jabil.”

Sidley Austin LLP acted as legal counsel for Pii.

About Pharmaceutics International, Inc.

Pii is a privately held contract development and manufacturing organization providing dosage form development and manufacturing services to the global pharmaceutical industry. Headquartered in Hunt Valley, Maryland with European facilities in the UK, services include preformulation testing, formulation development, clinical and commercial CGMP manufacturing of solid, parenteral, inhalation, semi-solid and liquid dosage forms, clinical packaging and labeling, and analytical services. Pii's facilities include manufacturing and containment suites, automated packaging lines and a wide selection of equipment. For more information, please visit www.pharm-int.com.

About Signet Healthcare Partners

Signet Healthcare Partners is a leading provider of growth capital to innovative healthcare companies, with a focus on the pharmaceutical and medical device sectors. With over 25 years of experience, Signet has raised cumulative capital commitments exceeding $600 million and invested in over 60 companies. The firm works closely with its portfolio companies to drive value and accelerate growth. For more information, visit www.signethealthcarepartners.com.

About Athyrium Capital Management

Athyrium is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium advises funds with over $4.6 billion in committed capital. The Athyrium team has substantial investment experience across a wide range of asset classes including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium invests across all healthcare verticals including biopharma, medical devices and products, healthcare focused services, and healthcare information technology. For more information, please visit www.athyrium.com.

About Hildred Capital

Hildred Capital is a healthcare-focused private equity firm that specializes in operationally intensive, control-oriented investments in lower middle-market companies. Hildred partners with innovative and growth-oriented management teams to build high quality businesses. The Hildred team possesses extensive experience across the healthcare industry, and seeks to leverage its unique blend of strategic, financial, commercial and operational acumen to drive strategic growth and create value for its portfolio companies and investment partners. Hildred currently has more than $2.65 billion in assets under management. For more information, please visit www.hildred.com and follow the firm on LinkedIn.

About Pharmascience Inc.

Founded in 1983, Pharmascience Inc. is a full-service privately owned pharmaceutical company with strong roots in Canada and a growing global reach with product distribution in over 60 countries. Ranked 47th among Canada's top 100 R&D investors with $56 million invested annually, Pharmascience Inc. is the 10th largest pharmaceutical company in Canada. Pharmascience Inc. is a leading manufacturer and marketer of prescription, generic, over-the-counter, and behind-the-counter products as well as FDA approved Canadian-made injectables. In Canada alone, more than 45 million prescriptions a year are filled with Pharmascience products.