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Bought for Rs 12.5 cr, sold at Rs 2000 cr; How Zandu scion scaled API biz 160 times in 12 yrs


Synopsis
Nihar Parikh has sold 100% of ZCL, an API co to Advent International riding the industry upswing after turning around a once-sub scale operation.
Nihar Parikh.
Back in 2008, Nihar Parikh had no inkling about the ferocity of the takeover battle between his family and Kolkata based
Emami who had raided their family’s crown jewel – the 100 year old OTC and ayurveda company Zandu Pharmaceuticals, makers of the eponymous pain relief balm, chyawanprash etc.
Like most 22-year olds, Nihar loved his weekend pub crawls in Antwerp, taking several swigs of his favourite Belgian pale ales, after week long toils on the shop floor at the Johnson & Johnson speciality chemicals manufacturing plant at the industrial town of Geel where he was interning as a chemical engineer. ....

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Advent International acquires majority stake in ZCL Chemicals


Advent International acquires majority stake in ZCL Chemicals
Advent International acquires majority stake in ZCL Chemicals
10 February 2021 | News
ZCL is one of the fastest growing manufacturers of specialty active pharmaceutical ingredients (APIs) and advanced intermediates
Source credit: Shutterstock
Advent International, one of the largest and most experienced global private equity investors, announced that it has signed a definitive agreement to acquire a majority stake in ZCL Chemicals Limited, one the fastest growing pharmaceutical companies in India. The business was formerly known as Zandu Chemicals Ltd.
With this transaction, Morgan Stanley Private Equity Asia (MSPEA), a private equity platform that previously managed a minority investment in ZCL, will exit their investment. ....

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PE firm Advent International to buy majority stake in Indian pharma firm ZCL Chemicals


PE firm Advent International to buy majority stake in Indian pharma firm ZCL Chemicals
Photo: Myriam Zilles / Unsplash
February 9, 2021
Private equity firm Advent International on Monday said that it has signed a definitive agreement to acquire a majority stake in pharmaceutical firm ZCL Chemicals Ltd.
Financial details of the transaction were not disclosed. However, a person aware of the transaction said the acquisition pegs an enterprise valuation of ₹1,700 crore ($233 million) for the company, which was earlier known as Zandu Chemicals Ltd.
With this transaction, Morgan Stanley Private Equity Asia, a private equity platform that previously managed a minority investment in ZCL, will exit its investment, Advent International said in a statement. ....

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PE Fund Advent To Acquire Majority Stake In ZCL Chemicals; Morgan Stanley PE To Exit Via Deal


PE fund Advent to acquire majority stake in ZCL Chemicals; Morgan Stanley PE to exit via deal
Advent has been investing in India since 2007. In this time, it has deployed over $1.7 billion in 12 companies with headquarters or operations in the country.
February 08, 2021 / 01:58 PM IST
Private equity fund Advent International on February 8 announced that it has signed a definitive agreement to acquire a majority stake in ZCL Chemicals, formerly known as Zandu Chemicals. The transaction represents the third deal in the domestic pharma segment by Advent which has earlier acquired Hyderabad based RA Chem and Bharat Serums and Vaccines.
With this transaction, Morgan Stanley Private Equity Asia, a private equity platform that previously managed a minority investment in ZCL, will exit its investment, the announcement said. The financial terms of the deal were not disclosed. ....

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