Frazier Healthcare reports that it has agreed to acquire AndersonBrecon, the contract pharmaceutical packaging business and wholly owned subsidiary of AmerisourceBergen Corp. Frazier Healthcare provides growth equity and venture capital to high-growth healthcare service and biopharma companies, and it will combine Packaging Coordinators Inc. (PCI) with AndersonBrecon to offer global packaging support.
“We are extremely excited to add the complementary U.S. and European footprint of AndersonBrecon to the strength of PCI’s capabilities,” said Bill Mitchell, PCI’s Chief Executive Officer, in a press release. “This acquisition is a positive step in PCI's growth strategy.”
Adds Nathan Every, Frazier Healthcare General Partner and PCI board member: “We are pleased to merge two stellar players within the pharmaceutical and biotech packaging business and believe that the combined company will deliver industry leading quality and service to our customers and a world-class environment for our employees.“
In addition to Frazier, the investor group includes affiliates of Greenspring Associates, QIC Global Private Equity, and Thomas McNerney & Partners, the release reports. The purchase of AndersonBrecon is subject to customary closing conditions, including certain regulatory reviews, and is expected to close in the second quarter of 2013. RBC Capital Markets acted as exclusive financial advisor to PCI, Frazier Healthcare, and co-sponsors. Goodwin Procter LLP represented Frazier Healthcare and PCI in the transaction.