Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today that its portfolio company Tropichem Research Labs, LLC (www.tropichem.com) has acquired Montreal, Quebec-based TetraGenx (TGX), a leading independent animal health contract development and manufacturing organization (CDMO). Terms of the transaction were not disclosed.
TGX (www.tetragenx.com) specializes in complex drug product formulation development to create innovative pharmaceutical, over-the-counter, and nutraceutical veterinary pharma products. The Company’s services encompass four main categories, including product development (pre-formulation, formulation, and analytical development); analytical testing; manufacturing; and ancillary support services.
TGX’s Montreal, Quebec location will remain in place and will complement Tropichem’s facility in Florida. TGX’s management team will also continue to serve customers with the same specialized capabilities and know-how.
Kevin McDonnell, President, TGX said, “We are excited to partner with the Tropichem team to expand our capabilities and provide exclusive independent drug development and contract manufacturing for the animal health industry. Tropichem is a great addition to the TGX brand and mission.”
John Kane, CEO, Tropichem said, “The addition of TetraGenx to Tropichem gives us much-expanded service capabilities and reach in the animal health industry and will provide to customers a ‘one-stop’ for product development and manufacturing. TGX has long been known to us for their management’s commitment to excellence and quality. We’re very excited to have them become part of the team.”
Said Matt Scherrer, Managing Director, TSCP, “We’re delighted to welcome TetraGenx to the Tropichem family. TGX is a leading provider of independent drug development services for the animal health industry and is widely known for their superior products.” Mr. Scherrer continued, “TGX’s knowledge, experience, work ethic, and adherence to industry quality standards makes them a perfect match for Tropichem.”
PricewaterhouseCoopers Corporate Finance LLC served as exclusive financial advisor to the selling shareholder group, while Gowling GLW provided legal counsel and Ernst & Young served as tax advisor for Tropichem Research Labs, Sidley Austin and McCarthy Tétrault provided legal counsel for the cross-border transaction, and KPMG provided tax and accounting diligence throughout the transaction process.
