SK CAPITAL MAKES STRATEGIC INVESTMENT IN HALO PHARMACEUTICAL
NEW YORK, January 6, 2015 - NEW YORK — (BUSINESS WIRE) — SK Capital Partners, a private investment firm with a disciplined focus on the specialty materials, chemicals and healthcare sectors, announced today that it has completed a controlling strategic growth investment in Halo Pharmaceutical, a premier provider of outsourced development and manufacturing services to the global pharmaceutical industry. The strategic investment is consistent with SK Capital's sector-focused strategy of investing in niche market leaders with strong brands and technologies and actively supporting management in building thriving businesses with sustainable competitive advantages.
Halo Pharmaceutical is a technology-focused contract manufacturing business with differentiated applications and capabilities in solid, semi-solid and liquid dosage forms, with a particular focus on controlled substances. Halo has long-standing commercial relationships with a number of major pharmaceutical companies and maintains facilities in both the United States and Canada.
Aaron Davenport, a Managing Director of SK Capital, noted, "We are delighted to partner with the current owners, management and employees of Halo Pharmaceutical to support their growth with additional resources and capital. Halo has grown dramatically since its founding in 2008 and we look forward to supporting its continued growth through investments in people, processes, and infrastructure as well as add-on acquisition opportunities to expand their scale and scope. We see the Halo investment as one which will serve as a long-term platform for growth in this attractive sector."
Mohd Asif, Co-Founder of Halo Pharmaceutical, commented, "As continuing owners of a significant share in the business, we are excited to partner with an industry-focused investor who can provide capital and resources to further improve our business and support our growth plans as we build our business. We have had tremendous success to date by treating our clients and our employees as our partners, and this philosophy will continue to drive Halo's growth." Mr. Asif further added "By having SK Capital as our partner, Halo will have the resources to acquire strategic assets that will increase our dosage forms offerings, formulation technologies, and enable superior customer service as a one-stop source for formulation development through commercialization".
Halo Pharmaceuticals is the sixth platform company in SK Capital Partners Fund III. The transaction was directly negotiated between the parties without financial advisors. Morgan, Lewis & Bockius LLP acted as legal counsel to SK Capital and McCarter & English represented the owners of Halo Pharmaceutical.
ABOUT SK CAPITAL
SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and healthcare sectors. Our integrated, multi-disciplinary team utilizes its industry, operating and investment experience to help transform businesses into higher performing organizations. Located in New York, NY and Boca Raton, FL, the firm has over $1.5 billion in third party capital under management. Our portfolio companies generate revenues of over $8.0 billion annually and employ approximately 9,000 people. More information about SK Capital can be found atwww.skcapitalpartners.com.
ABOUT HALO PHARMACEUTICAL
Halo Pharmaceutical is a rapidly growing contract development and manufacturing organization (CDMO) that provides scientific and development expertise as well as a wide spectrum of manufacturing services from its locations in Whippany and East Hanover, New Jersey USA and Montreal, Quebec Canada to its international client base. Halo offers fully integrated capabilities in a variety of dosage forms including tablets, capsules, powders, liquids, creams, sterile and non-sterile ointments and suppositories. The company is registered to work with any of these dosages in the CI-CV DEA designations. Halo Pharmaceutical's capabilities in the areas of tech transfer, process and product development, production, scale-up and validation and analytical method development allow us to partner with clients from development through commercialization or at any point along the way. For more information please contact[email protected].