Everstone acquires controlling stake in Softgel Healthcare
Singapore-headquartered Everstone Capital, private equity arm of the Everstone Group, (Everstone) announces the acquisition of a controlling stake in Softgel Healthcare (SHPL), a specialized niche dosage form focused manufacturing player catering to the global nutraceutical, pharmaceutical and OTC segments. This partnership aims to transform SHPL into a scaled, diversified, and globally recognized contract research, development, and manufacturing organization in India with support of the strategic resources of Everstone.
Headquartered in Chennai, SHPL is part of the Madras Pharma Group, a leading pharmaceutical contract manufacturing organization in southern India, with 8 manufacturing facilities covering all dosage forms. SHPL specializes in research, development and manufacturing of soft gelatin capsules and probiotics. Its customers span across the Americas, Africa, Asia and India with over 80% of its sales being in exports. It has a state-of-the-art manufacturing facility in Chennai, conforming to globally recognized certifications and registrations such as USFDA, TGA, EU-GMP, Health Canada, among others.
Veda Corporate Advisors was the exclusive financial advisor to SHPL and its shareholders.
Sharing his views on the investment, Sameer Sain, Co-founder & CEO, Everstone Group, said, “We are delighted to partner with SHPL, Mr. Sulaiman and the management team lead by Dr Vijay Alagappan. The company, with its strong R&D capabilities and ability to manufacture products in advanced dosage forms, is well positioned to be a global leader in the CDMO segment. We believe that Everstone’s value creation playbook will help SHPL realize its global goals and propel the company into its next phase of growth.”
Puncham Mukim and Dr Arjun Oberoi, Managing Directors, Everstone Capital will join the board of SHFL.
Mr A. M. Sulaiman, Founder-Chairman of the Madras Group, said, “We are delighted to have Everstone as a partner in SHPL as we move ahead into an exciting growth phase in this business. The investment from Everstone will accelerate organization learning to provide best-in-class products and services to our customers and become a manufacturer of choice.”