SK Capital Partners Completes Sale of Noramco, Extractas Biosciences, and Purisys to Siegfried Holding AG
NEW YORK--( BUSINESS WIRE)--Affiliates of funds advised by SK Capital Partners, LP (“SK Capital”), a private investment firm focused on the life sciences, specialty materials, and ingredients sectors announced today they have completed the sale of Noramco, Extractas Biosciences, and Purisys of the Noramco Group (“Noramco” or the “Company”) to Siegfried Holding AG (SIX: SFZN; “Siegfried”), a leading global Contract Development and Manufacturing Organization (CDMO) for the pharmaceutical industry.
Following the close of the transaction, SK Capital will retain ownership of Halo Pharmaceuticals, a leading finished-dose-form CDMO in the United States and Canada with sterile-fill-finish and controlled substance production capabilities. Going forward, Lee Karras and Alan Majewski, CEO and CFO, respectively, of the Noramco Group will remain with Halo Pharmaceuticals and continue to lead the business in their current roles.
Lee Karras, CEO of the Noramco Group, commented, “I would like to thank the Noramco Group team for its commitment to excellence and SK Capital for its support throughout its ownership period. I look forward to leading Halo Pharmaceuticals during this new phase as an independent CDMO. We are focused on expanding our capabilities to meet evolving customer needs, including the launch of sterile injectable manufacturing at our Whippany, New Jersey facility, which we expect to bring online in the second half of this year.”
Aaron Davenport, Chairman of Noramco’s Board of Directors and Managing Director at SK Capital, said, “SK Capital is privileged to have supported the Noramco Group and its team. Going forward, Halo Pharmaceuticals will continue to build upon decades of supporting pharmaceutical and healthcare clients and we see significant opportunity to sharpen focus on the business and support its next phase of growth.”
Jefferies acted as Lead Financial Advisor to the Company in connection with the transaction. RBC Capital Markets, LLC and Rothschild & Co. also served as financial advisors, and Kirkland & Ellis acted as legal counsel to the Company.
About SK Capital:
SK Capital is a transformational private investment firm with a disciplined focus on the life sciences, material sciences, and specialty ingredients sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital manages funds with over $8.5 billion in aggregate commitments. For more information, please visit www.skcapitalpartners.com.
About Halo Pharmaceuticals:
Halo Pharma is a rapidly growing contract development and manufacturing organization (CDMO) that provides scientific and development expertise, as well as a wide spectrum of manufacturing services, from its locations in Whippany, New Jersey, USA, and Montreal, Quebec, Canada, to its international client base. Halo Pharma offers fully integrated capabilities across a variety of dosage forms, including solid, semi-solid, and oral liquid, and is expanding to include sterile vial, prefilled syringe, and cartridge formats. The company is registered to work with any of these dosages in the CI-CV DEA designations. Halo Pharma's capabilities in tech transfer, process and product development, production, scale-up/validation, and analytical method development allow it to partner with clients from development through commercialization—or at any point along the way. For more information, please contact services@halopharma.com.
About Siegfried:
The Siegfried Group is a global life sciences company with sites in Switzerland, Germany, Spain, France, Malta, the USA and China. In 2024, the company achieved sales of CHF 1.295 billion and employed on 31.12.2024 more than 3,800 people at thirteen sites on three continents. Siegfried Holding AG is publicly listed on SIX Swiss Exchange (SIX: SFZN).
Siegfried is active in manufacturing pharmaceutical APIs (and their intermediates) as well as drug products (tablets, capsules, sterile vials, ampoules, cartridges and ointments) for the pharmaceutical industry and provides development services. For more information, please visit siegfried.ch.