Sources say it has emerged from the auction as the most likely buyer after owners Pacific Equity Partners and The Carlyle Group took binding bids on Friday.
Private equity firm TPG Capital is set to acquire medicine and healthcare products company iNova Pharmaceuticals.Sources said TPG has agreed a deal to take a controlling stake in iNova, while existing investor Pacific Equity Partners will own a minority stake.TPG will own the lion’s share of the equity, and seek to grow the business in South East Asia and the Middle East.
iNova owns a portfolio of medicine and healthcare brands, including Difflam and Demazin, both used for cold and flu relief. Its other products include skincare label Dermaveen and weight management brand Duromine. The private equity firm’s local spearhead, Joel Thickins, is understood to be the United States as part of the fundraising.
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