Partners Group Exits PCI Pharma Services in Strategic Sale
Why we think this is good
The RNS announcement provides details on Partners Group's exit from its investment in PCI Pharma Services, a global CDMO. The transaction values PGPE Ltd's stake at approximately EUR 83 million, which is in line with the latest published carrying value. The sale is part of a strategic plan to unlock value and maintain exposure to the company's future growth. The terms of the sale appear fair and reasonable, and the timeline for completion is reasonable. Overall, the news is positive, but does not meet the criteria for a 'Very Good' rating as it is not a profit upgrade or trading significantly ahead of expectations.
Key Points
- Partners Group, on behalf of PGPE Ltd and its other clients, has agreed to exit its longstanding holding in PCI Pharma Services
- The transaction values PGPE Ltd's stake in PCI at approximately EUR 83 million, in line with the last published carrying value
- PGPE Ltd will reinvest approximately EUR 18 million to retain a minority stake in PCI to support its future growth
- The transaction is expected to close in H2 2025, subject to customary conditions and regulatory approvals
Summary
Partners Group Private Equity Limited (PGPE Ltd) has agreed to exit its investment in PCI Pharma Services, a global contract manufacturing and development organization (CDMO), as part of a strategic transaction. The transaction values PGPE Ltd's stake in PCI at approximately EUR 83 million, which is in line with the last published carrying value. As part of the transaction, PGPE Ltd will reinvest approximately EUR 18 million to retain a minority stake in the company to support its next phase of growth.