Expansion of our global clinical services network continues to California
PCI Pharma Services is pleased to announce the completion of our acquisition of Sherpa Clinical Packaging (Sherpa).
Located in San Diego, Sherpa is a recognized provider of Clinical Trial materials management services and is known for its high quality, flexibility, and speed-to-market in support of investigational studies conducted around the world.
Sherpa’s packaging, labeling, distribution, temperature-controlled storage and returns services are highly complementary to PCI and adding this key geography further strengthens our ability to support existing and new customers. Sherpa’s state-of-the art facilities include primary and secondary packaging services coupled with cutting edge Cold Chain and Ultra Cold Chain technologies.
We now have manufacturing and packaging facilities in eight key locations across three continents and an extensive depot network to service its customers’ global needs. San Diego joins our existing sites in Rockford, IL; Bridgend, UK; Dublin, Ireland; and Melbourne, Australia in supporting medicines with temperature requirements ranging from Controlled Room Temperature 15-25°C, Cold Chain refrigerated storage, and Ultra Cold Chain frozen requirements down to cryogenic temperatures of -196°C.
“PCI’s overarching tenet is to provide the industry leading customer experience.” stated Salim Haffar, PCI Chief Executive Officer. “We evaluated the Sherpa business and found they share this passion, which is demonstrated by their impressive growth. Sherpa’s investments in its capabilities, capacity, and talent have contributed to a successful service model. The integration of the Sherpa business with our global suite of capabilities and strategic locations allows us to continue to provide a best-in-class offering and be an even stronger partner for our customers.”
We have actively grown our Clinical Trial supply business through investment in internal capabilities as well as by strategic acquisition. In September 2017, PCI acquired Millmount Healthcare, located in Dublin, Ireland. The acquisition provided us with additional commercial and clinical packaging, storage and distribution capacity, as well as a wider EU base of operations to mitigate customer Brexit concerns about supply chain continuity.
In February 2018, PCI acquired Pharmaceutical Packaging Professionals (PPP), based in Melbourne, Australia, which provided us with direct access to the rapidly expanding market for early phase clinical studies conducted in Australia. The location serves as the regional headquarters for the wider Asia Pacific region, also an active market for Clinical Trials. The acquisition also enhanced our portfolio of molecule-to-market capabilities, adding sterile and non-sterile drug manufacturing services for early phase studies.
With the acquisition of Sherpa, PCI now employs more than 3,500 associates across 20 facilities in eight global locations. Headquartered in Philadelphia, PA, we are principally owned (on behalf of our clients) by Partners Group, with partner investors Thomas H. Lee Partners and Frazier Healthcare Partners.
Jefferies Finance LLC acted as the lead arranger for the financing. Goodwin Procter LLP acted as legal counsel to PCI for this transaction. PCI engaged global professional services firm Alvarez & Marsal to provide due diligence services.