Packaging Coordinators, Inc. (PCI) has finalized its acquisition of Penn Pharmaceutical Services Ltd., a provider of drug development and manufacturing services headquartered in Wales, UK. Penn offers clinical and commercial dosage form manufacturing and packaging, labeling, and global storage, distribution and return drug services.
With the acquisition PCI and Penn Pharma’s approximately 2,800 associates will combine across 15 facilities in North America and Europe.
PCI is principally owned by Frazier Healthcare, with partner investors QIC Global Private Equity, Greenspring Associates and Thomas, McNerney & Partners. Teneo Capital acted as the exclusive financial adviser to PCI and Frazier Healthcare, professional services firm Alvarez & Marsal provided due diligence services, and Goodwin Procter LLP acted as legal counsel for the transaction.