An investment consortium led by Signet Healthcare Partners, Bionpharma, Inc and GMS Capital Partners LLC today announced it has formed Pharma Nobis, LLC to acquire Fagron’s US contract manufacturing business.
This business unit, operating from a manufacturing facility in Texarkana, Texas, provides contract manufacturing and private label services for consumer healthcare companies and retailers in the United States. Fagron will retain a 20% interest in the Company. Todd Daviau, co-founder and former President & CEO of CoreRx, a leading pharmaceutical contract development and manufacturing company, was named CEO of Pharma Nobis.
James Gale, Managing Director at Signet Healthcare Partners, noted, “We are enthused about the opportunity to invest in this business. Fagron has developed an outstanding company with a reputation as a cost-competitive manufacturer with a high service rating. We and our equity partners will seek to build on this capability and support the Pharma Nobis management team in growing their business.”
Todd Daviau commented, “I appreciate the opportunity to work with the Signet investment team again and am excited about this opportunity to take Pharma Nobis to the next level in personal care manufacturing. We will seek to serve our customer base through reliable service and innovation.”
Concurrent with the acquisition, the Company announced that James Gale, Dr. Theron Odlaug, Yezan Haddadin, and Andrew Pulido will join its Board of Directors, along with Todd Daviau. Dr. Odlaug is an experienced pharmaceutical executive and Signet Venture Partner. Yezan Haddadin is the CEO of GMS Capital Partners LLC. Andrew Pulido is the President of Fagron North America.