Two old investor favourites — consumer products and enterprise technology — are expected to emerge as sectors of choice for venture capital and private equity in 2017, as they seek to back safe sectors that can assure them good returns.
Investors in the private equity (PE) space — from the big Canadian pension funds to home grown funds such as Everstone or IDFC Alternatives — are opting to buy or build platforms to have more say on the outcome of their investments. And, as buyouts rise, platforms are gaining ground.
Mumbai, October 24, 2016– The Everstone Group has bought a 70% stake in Mumbai-based Rubicon Research Pvt. Ltd., a pioneering drug delivery technology company in India, for a total outlay of Rs 220 crore (US$ 33 million).
Along with a US$ 20 million investment directly into the business, the deal includes acquiring stakes from Kotak Private Equity and a private investor.
Rubicon is a world-class outsourcing partner to the global pharmaceutical industry and its proprietary technologies provide solutions for bioavailability enhancement, gastric retention, taste masking, and customising the release profiles of drugs. Rubicon also offers lifecycle management services for pharmaceutical products.
Rubicon also has a US FDA-approved manufacturing plant at Ambernath in Maharashtra, with a capacity of 800 million tablets and it has refocused its business on creating its own Abbreviated New Drug Applications (ANDAs)/New Drug Applications (NDAs) for the global market.
“Rubicon has an excellent record of providing cutting-edge solutions to the healthcare and pharmaceutical industry,” said Sameer Sain, Co-Founder and Managing Partner of the Everstone Group. “We are excited about enhancing its capabilities,” Sameer added.
Rubicon Founder and CEO Dr. Pratibha Pilgaonkar said: “We welcome this partnership with Everstone and believe, with their deep managerial and operational expertise, capital infusion, and global connectivity, we will be able to significantly accelerate our growth.”
This investment will be fourth investment from Everstone’s latest PE fund (Everstone Capital Partners III) and was led by Deep Mishra, an Everstone MD who focuses on consumer and pharmaceutical investments for the Group. Deep will be joining the board of directors of Rubicon.
About Everstone Group
The Everstone Group is a premier India and Southeast Asia focused private equity and real estate investment firm with assets under management of USD $3.3 billion. Headquartered in Singapore, Everstone has around 200 people working across five offices—Singapore, Mumbai, Delhi, Bengaluru, and Mauritius. Everstone has been awarded ‘Private Equity Firm of the Year in India’ by Private Equity International for five consecutive years.
For more information, visit www.everstonecapital.com
Rubicon Research is a pioneer Drug Delivery Technology company in India and is recognized as a world class outsourcing partner in pharmaceutical industry. Rubicon’s proprietary technologies provide solutions for bioavailability enhancement, gastric retention, taste masking, and customising the release profiles. Rubicon has a US FDA-approved manufacturing plant and is bringing complex generics into the regulated markets of US and Europe.
At the core of everything we do and every investment we make is our belief in the power of great partnerships. This, combined with an active and hands-on investment approach, enables us to compound capital over the long term to deliver the best outcomes to our clients.