VedaCorp advises Softgel Healthcare, a leading pharma softgel CDMO player on its divestment of majority stake to Everstone Capital

Healthcare & Life Sciences

DATE September, 2022

TYPE Private Equity

About

Softgel Healthcare

Softgel Healthcare Private Limited specializes in research, development and manufacturing of soft gelatin capsules. Its customers span across the Americas, Africa, Asia and India with 80%+ of its sales being exports. It has a state-of-the-art manufacturing facility in Chennai, confirming to globally recognized certifications and registrations such as USFDA, TGA, EU-GMP, Health Canada, among others.

Everstone

Singapore headquartered Everstone Capital, is the private equity arm of the Everstone Group, a global firm committed to driving economic growth and creating sustainable value. With seven offices globally (Singapore, Mumbai, Delhi, Bengaluru, New York, Dubai and Mauritius), Everstone Capital focuses on the mid-market with control mindset and growth bias; comprising best of breed investing, operations and strategic resources with significant experience and skills.

Background

We are pleased to announce the sale of majority stake in our client, Softgel Healthcare Private Limited (“SHPL”) to Everstone Capital, a leading mid-market focussed control private equity fund.

SHPL, headquartered in Chennai and is part of the Madras Pharma Group, a leading pharmaceutical contract manufacturing organization in South India, with 8 manufacturing facilities covering all dosage forms. SHPL specializes in research, development and manufacturing of soft gelatin capsules catering to the global nutraceutical, pharmaceutical and OTC segments.

Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the Company and its promoters. VedaCorp provided comprehensive transaction advisory services covering identification of prospective investors, strategic positioning including deal structuring, negotiation of key commercial terms, leading to the successful closure of the transaction. This marks VedaCorp’s 44th transaction in the healthcare & life sciences space.

“VedaCorp team helped us overcome our initial inhibitions about Private equity by following a transparent approach towards negotiations and handheld us through the entire transaction process. Their hardwork & perseverance was instrumental in getting us the deal done”

Mr. A.M.Sulaiman

Chairman – Madras Pharma Group

“Over the last 4 decades, the Madras Pharma Group has grown into one of the major contract manufacturing players in India with superior capabilities across dosage forms, state of the art manufacturing facilities and marquee clientele both domestic & global. SHPL with its product capabilities and global reach has built a solid business with attractive revenue growth & margin profile. The partnership with Everstone is expected to further fast track the company’s growth (both organically & inorganically) in the softgel nutra & OTC market in emerging & regulated markets”

S. Ganapathiraman

Director – Veda Corporate Advisors