Renaissance Lakewood to Join LTS in Strategic Acquisition
Renaissance Lakewood Enters Significant Acquisition Agreement
RoundTable Healthcare Partners has announced a significant acquisition plan involving its portfolio company, Renaissance Lakewood. This deal marks a pivotal moment for both companies as Renaissance has entered into a definitive agreement to be acquired by LTS LOHMANN Therapie-Systeme AG.
About LTS and its Innovative Approach
LTS, based in Andernach, Germany, is renowned for its advancements in pharmaceutical technology. It specializes in developing and manufacturing cutting-edge drug delivery systems. Through this acquisition, LTS aims to leverage Renaissance's capabilities in nasal and injectable pharmaceutical products, enhancing their existing portfolio.
The Legacy of Renaissance Lakewood
Renaissance Lakewood is celebrated for its expertise as a contract development and manufacturing organization (CDMO), focusing on nasal and injectable products. The organization has built a robust reputation by producing unit-dose, bi-dose, and multi-dose nasal sprays alongside small-volume parenteral fill-finish vials. The company was established by RoundTable following the acquisition of two leading CDMOs, namely Confab Laboratories and DPT Laboratories. As of late, Renaissance has concentrated on advancing its intranasal and injectable dosage platforms, building upon its growth journey.
Leadership Comments on the Acquisition
Pierre Frechette, Managing Partner at RoundTable, expressed gratitude towards the Renaissance team for their hard work. He noted that LTS will serve as a valuable partner in continuing the legacy and growth of Renaissance. Similarly, Serge Maltais, President and CEO of Renaissance, emphasized the transformation the company has experienced with RoundTable's support and shared excitement for future prospects under LTS.
The Expected Timeline for the Sale
This acquisition is expected to finalize in November, pending regulatory approvals. The transaction outlines a promising future for both Renaissance and LTS as they aim to combine their strengths in the pharmaceutical field.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners is a private equity firm focusing solely on the healthcare industry, based in Lake Forest, IL. The firm partners with companies to provide support through its industry connections and operational expertise. RoundTable has successfully raised $4.25 billion in committed capital through various funds, underlining its solid foundation in the healthcare investment landscape.
Frequently Asked Questions
What is the main focus of Renaissance Lakewood?
Renaissance Lakewood specializes in contract development and manufacturing, particularly for nasal and injectable products.
Who is acquiring Renaissance Lakewood?
LTS LOHMANN Therapie-Systeme AG is the company acquiring Renaissance Lakewood.
When is the anticipated closure date for this acquisition?
The acquisition is expected to close in November, subject to regulatory approvals.
How has RoundTable Healthcare Partners supported Renaissance?
RoundTable has provided operational support and strategic guidance, aiding in Renaissance's growth and transformation within the industry.
What are the primary products manufactured by Renaissance Lakewood?
Renaissance focuses on nasal sprays and small-volume parenteral fill-finish vials, enhancing drug delivery systems in the pharmaceutical sector.
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