Funds managed by SK Capital Partners LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, completed its acquisition of the blow-fill-seal sterile contract development and manufacturing business from Catalent Pharma Solutions LLC. The business has been renamed Woodstock Sterile Solutions, reflecting its long-standing, rich heritage in the Woodstock, Illinois community.
Woodstock has also appointed Paul Josephs as the company’s chief executive officer. Josephs comes to Woodstock having most recently served as head of contract development and manufacturing and global business development at Mylan, a global generic and specialty pharmaceuticals company.
“I am truly honored and excited to lead an organization with the heritage and potential of Woodstock,” said Josephs. “I look forward to partnering with SK Capital, the executive team and all Woodstock associates to leverage the Company’s unique sterile manufacturing capabilities, strong market position and exceptional talent to execute our growth strategy. The BFS and sterile manufacturing markets are significant growth areas in our industry and together we have a great opportunity to positively impact the lives of countless patients, domestically and abroad.”
Aaron Davenport, a managing director of SK Capital, stated, “We are excited to launch Woodstock Sterile Solutions as an independent company, building on its decades of experience in serving commercial and development customers. We are delighted that Paul Josephs is joining to lead the very capable Woodstock team. Paul is a CDMO industry veteran who brings sterile production experience and contemporary leadership skills to ensure an environment committed to operational excellence, customer delight, innovation and a partnership-driven approach for Woodstock’s customers, suppliers and employees.”
Debt financing was provided by Cerberus Business Finance LLC. Mizuho Securities served as financial advisor and Kirkland & Ellis LLP acted as legal counsel to SK Capital. RBC Capital Markets served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to Catalent.