Kühne Holding AG has confirmed its agreement to acquire the contract development and manufacturing organization (CDMO), Aenova Group, from BC Partners, a private equity firm. This acquisition marks a significant expansion of Kühne Holding AG’s portfolio into the healthcare and pharmaceutical sectors, complementing its established interests in international logistics and shipping.
Kühne Holding AG, headquartered in Switzerland, is strategically enhancing its investment spectrum by incorporating healthcare and pharmaceutical assets, aiming for long-term growth and a robust financial foundation. Aenova, with its headquarters near Munich in Starnberg, employs around 4,000 staff across 14 global manufacturing sites, and is recognized as a pivotal player in the pharmaceutical manufacturing space.
Aenova has established itself as a leader in the European market and ranks among the top CDMOs globally, specializing in solid and semi-solid dosage forms, and is a leading provider of softgel capsules and veterinary products. The company reported a record revenue of €832 million in 2023, reflecting a significant year-on-year growth. BC Partners, having acquired Aenova in 2012 for €480 million, will continue to hold a minority interest post-acquisition, underscoring continued confidence in Aenova’s growth trajectory.
Dominik de Daniel, CEO of Kühne Holding AG, expressed enthusiasm about the acquisition: “With this investment, we are strategically positioning ourselves to further expand into healthcare and pharmaceuticals, sectors known for their resilience and growth potential. Aenova’s impressive track record and its upward trajectory make it a valuable addition to our portfolio.”
Aenova has been proactive in expanding its capabilities, notably enhancing its sterile fill and finish capacity at its Italian site in Latina, which boasts a new high-speed, flexible production line for vials and pre-filled syringes (PFS). Despite challenges such as the closure of its Wolfratshausen site due to profitability issues and regulatory investments, Aenova continues to strengthen its production capabilities, with plans to augment capacity through 2025.
This transaction aligns with Kühne Holding AG’s broader strategy of diversifying investments and leveraging synergies across its business units. While the financial details of the deal remain undisclosed, the strategic implications suggest a positive outlook for both Kühne Holding and Aenova under this new ownership.
For more details on Aenova and this acquisition, visit their official site and view additional insights on BC Partners’ portfolio. Further discussions and reports on the sale can be explored through Bloomberg and Reorg.
