PCI Pharma Services has announced the completion of its acquisition of Sherpa Clinical Packaging.
Located in San Diego, Sherpa is a provider of Clinical Trial materials management services. Sherpa’s packaging, labeling, distribution, temperature-controlled storage and returns services are complementary to PCI and adding this key geography strengthens PCI’s ability to support existing and new customers. Sherpa’s facilities include primary and secondary packaging services coupled with Cold Chain and Ultra Cold Chain technologies.
PCI now has manufacturing and packaging facilities in eight locations across three continents and a depot network to service its customers’ global needs. San Diego joins PCI’s 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.” said 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 PCI’s 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.”
With the acquisition of Sherpa, PCI now employs more than 3,500 associates across 20 facilities in eight global locations. Headquartered in Philadelphia, PA, PCI is principally owned (on behalf of its clients) by Partners Group, with partner investors Thomas H. Lee Partners and Frazier Healthcare Partners.
Jefferies Finance acted as the lead arranger for the financing. Goodwin Procter acted as legal counsel to PCI for this transaction. PCI engaged global professional services firm Alvarez & Marsal to provide due diligence services.