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“Recipharm has grown strongly in recent years through a series of acquisitions, and today it has a strong position in the global CDMO market. EQT wants to support Recipharm’s continued development, which will require significant and long-term investments. We highly value Recipharm’s management and employees and look forward to becoming partners with Lars Backsell and Thomas Eldered, “says Erika Henriksson, Partner at EQT Partners and Investment Advisor to EQT IX.
Recipharm’s chairman of the board, Lars Backsell, and CEO, Thomas Eldered, who are indirect shareholders, are participating in the offering. This means that EQT IX through Roar Bidco has secured ownership of approximately 25.7% of the shares and 74.3% of the votes in Recipharm.
“We are convinced that EQT’s experience in business development will make it possible to build a stronger company in a rapidly changing industry. We have chosen EQT with care and are fully committed to them. We are convinced that they have the best conditions to provide the necessary support and lead Recipharm during the next phase of the Company’s development. We will not accept any competitive offer and we will not participate in any other consortium; we want to do this together with EQT, “says Recipharm Chairman Lars Backsell.
The acceptance period is expected to start around December 18 of this year and end on February 12, 2021. The offer is conditional on EQT becoming the owner of more than 90% of the total number of shares outstanding.
A separate press release indicates that the Recipharm Board of Directors has engaged Carnegie as a financial advisor and has commissioned Öhrling’s PricewaterhouseCoopers to render a supposedly unbiased opinion on the offering.
