SK Capital Partners has acquired a majority stake in Halo Pharmaceutical for an undisclosed amount.
Halo, headquartered in Whippany, New Jersey, provides outsourced development and manufacturing services to the pharmaceutical industry. The company makes solid, semi-solid and liquid medicines, with a particular focus on controlled substances.
SK Capital, a New York private equity firm, expects the investment to help Halo grow organically and through acquisitions. The firm closed a $1 billion fund in December. Before that, in October, SK portfolio company Anchroma agreed to buy the textile operations of BASF SE (FRA: BAS).
Many pharmaceutical companies have looked to outsource manufacturing as they focus more on drug development. For more on pharmaceutical manufacturing, see Pursuing Pharmaceutical Manufacturing.