Ancor Capital Partners, a Dallas private equity firm, has announced the sale of WellSpring Pharma Services to ANI Pharmaceuticals. The sale was finalized Aug. 6, 2018, and terms were not disclosed.
WellSpring Pharma Services headquartered in Ontario, Canada, is a pharmaceutical contract manufacturing organization. The company provides pharmaceutical manufacturing services for virtually all nonsterile finished dosage form products, including solids, semisolids, and oral liquids and suspensions, as well as primary and secondary packaging in a variety of presentations.
When Ancor, along with co-investor Sentinel Capital Partners, acquired the WellSpring business in 2011, it consisted of three separate business operations – prescription drugs, consumer health care and over-the-counter products, and contract manufacturing of pharmaceutical products. Ancor sold the prescription drug business in 2014 and the consumer health care division in 2017. This transaction represents the sale of the contract manufacturing operation, the final WellSpring business segment.
“We are extremely pleased with our WellSpring business investment,” said Randall Keene, a founding partner at Ancor. “On our watch, the operation was able to advance its position as a market leader and has emerged into a powerful platform poised for continued and sustainable growth.”