Pamplona Capital Management LLP, the investment group whose backers include Russian billionaire Mikhail Fridman’s Alfa Group, bought a majority stake in Alvogen, a drugmaker.
Pamplona, which is based in London, said in a statement today that Alvogen’s founder and chief executive officer, Robert Wessman, will continue to operate the business. Terms of the deal weren’t disclosed.
Alvogen, which is domiciled in Luxembourg and focuses on generic and over-the-counter pharmaceuticals, employs 2,000 people and operates in 34 countries in the Americas, Europe and Asia, according to the statement.
“Robert is one of the leading figures in the global generics industry and he and his team have built a first class business with excellent prospects for future growth,” Jeremy Gelber, a partner at Pamplona, said in the statement.
Jefferies Group LLC and Perella Weinberg Partners LP advised Pamplona, with Jefferies providing sole financing for the transaction. The legal advisers were Lowenstein Sandler LLP and Allen & Overy LLP.