Zentiva, a leading European generics pharmaceutical company, Advent and GTCR – two leading global private equity investors – today announce the sale of Zentiva by Advent to GTCR.
Since acquiring Zentiva from Sanofi in 2018, Advent has worked closely with the management team to successfully transform the business, whilst investing to expand Zentiva’s portfolio of medicines and manufacturing footprint, both organically and through targeted M&A.
GTCR is a leading private equity firm with a long history of investments in the healthcare sector and deep domain expertise in the pharmaceutical industry specifically, having invested behind several leading platforms and completed dozens of acquisitions in the space in the last 20 years.
Steffen Saltofte, CEO, Zentiva, said, “Advent has been an exceptional partner in Zentiva’s transformation journey. Their commitment to investing in our capabilities, pipeline, and manufacturing base has been instrumental in our growth and in ensuring we can better serve millions of patients across Europe. As we move forward with GTCR, we are excited to build on this momentum to ensure continued growth and expand access to high-quality, affordable medicines.”
Tom Allen, Managing Director at Advent, said, “When we acquired Zentiva from Sanofi in 2018, we saw the opportunity to build an independent European leader in affordable medicines. By actively working with the management team and investing in the company’s capabilities, Zentiva has more than doubled its revenue and EBITDA, establishing a strong foundation for the future. Zentiva exemplifies Advent’s ability to carve out and transform non-core divisions into thriving, market-leading businesses. We are proud of what has been achieved and confident Zentiva will continue to excel under GTCR’s ownership.”
Sean Cunningham, Managing Director and Head of Healthcare at GTCR, said, “We are delighted to partner with Steffen Saltofte and the talented Zentiva management team for its next phase of growth. The Company has an impressive track record of organic and inorganic expansion, a strong pipeline, and a highly efficient manufacturing platform, with a critical focus on delivering high-value medicines to patients across Europe. We look forward to supporting Zentiva as it continues to deliver on its mission.”
The transaction is subject to customary regulatory approvals and its closing is expected to take place in early 2026.
Advent was advised by Goldman Sachs and PJT Partners as lead financial advisors and Freshfields as lead legal advisor.
GTCR was advised by Barclays Bank PLC, acting through its Investment Bank, and BNP Paribas as lead financial advisors, Morgan Stanley & Co. LLC as a financial advisor, and Kirkland & Ellis LLP as legal advisor.