Advent International to combine its listed & private entity business

Recently, Advent International announced the merger of its privately held pharma company into recently acquired listed pharma company.

- Anirudha Jain

Advent being one of the largest private equity entities, is the merger move looking for 1+1=11?

COHANCE LIFESCIENCES LIMITED (the "Transferor Company" or "Cohance") is, inter alia, engaged in the business of: (i) end-to-end contract development and manufacturing of intermediates[CDMO) and active pharmaceutical ingredients ("APIS") for innovator customers; (ii) manufacturing of intermediates, APIs, finished dosage formulations for pharmaceutical companies; (iii) manufacturing of specialty chemicals, including electronic chemicals; and (iv) undertaking clinical research studies, catering to both domestic and international markets, thereby providing products. Cohance is private company 100% owned by Advent International has registered office in the state of Maharashtra.

Recently, to combine its private pharma portfolio, Advent merged its other portfolio companies ZCL Chemicals Limited and Avra Laboratories Private Limited into Cohance.

SUVEN PHARMACEUTICALS LIMITED (the "Transferee Company" or "Suven") is, inter alia, engaged in the business of: (i) contract development, manufacturing and manufacturing process development of intermediates for innovator customers; (ii) manufacturing of specialty chemicals including agrochemicals; (iii) manufacturing of APIs and formulations, providing analytical services (including without limitation the assessment of compounds, concentration level etc.) and method development services; and (iv) process improvement services for both pharmaceutical and specialty chemicals companies.

Suven had its registered office in the state of Telangana. In early 2024 (before announcing the scheme), Suven shifted the registered office from the State of Telangana to the State of Maharashtra. The equity shares of Suven are listed on nationwide bourses.