MidEuropa's Bold Move To Acquire Famar Shakes Up Industry

MidEuropa has reached an agreement to purchase a majority stake in Famar, a pharmaceutical CDMO, from ECM Partners and Metric Capital Partners. MidEuropa, alongside the management team and existing shareholders—who will maintain a minority share—will make this investment. The deal is anticipated to be finalized in the latter half of 2024, pending standard anti-trust and regulatory clearances. Famar offers a comprehensive range of services across the CDMO spectrum, with extensive expertise in various dosage forms, including sterile, solids, semi-solids, and R&D services. The company employs around 1,900 people across six manufacturing facilities in southern Europe, complemented by two R&D centers.

Matthew Strassberg, Partner and Head of Healthcare Sector Practice at MidEuropa, said that, “Our investment in Famar demonstrates MidEuropa’s continued commitment to identify and support growing platforms in the healthcare sector, and once completed, will bring our total equity investments in the sector to well over €1bn. Famar is a growing European CDMO platform with a track record of strong execution, combined with a clear value creation potential and expansion ambitions. We are impressed with Famar’s growth and success under Kostas Rengis’ leadership over the past few years and are enthusiastic about the opportunity to support him and his team to further strengthen Famar’s relevance to its clients in its current markets and beyond.”

Konstantinos Rengis, CEO of Famar, remarked, “We are pleased to welcome MidEuropa as a strong and highly reputable healthcare investor who shares our vision and values. With their backing, we are well placed to further accelerate Famar’s growth, provide high quality service to our customers and support our growing team while contributing to the health and well-being of millions of patients worldwide. We are confident that MidEuropa’s long-standing track record in the sector will be instrumental for the Company’s continued success.”

Savvas Liasis, Chairman of the Board of ECM Partners, further added, “I am confident that the company [Famar] will continue to thrive under MidEuropa’s stewardship and we look forward to continuing our support of Famar’s talented management team in the next phase of growth.”