Carlyle buys minority stake in US CDMO Ambio from MVM Partners

Equity for the investment came from Carlyle Asia Partners V, Carlyle’s flagship $6.55 billion Asia fund focused on buyout and strategic investments across a range of sectors in Asia Pacific.

MVM retains a significant interest in Ambio.

Founded in 2007 by Dr. Chris Bai, a scientist and entrepreneur, with headquarters in North Augusta, SC, Ambio is a peptide biologics company that provides API CDMO services for drugs approved by US Food and Drug Administration, European Medicines Agency and China National Medical Products Administration and has a robust pipeline of pre-clinical and clinical programs.

The firm also partners with major global pharmaceutical firms to develop generic peptides. The firm has two manufacturing sites in China and the U.S., employing more than 400 people and servicing a global premier biopharmaceutical customer base.

Carlyle Asia Partners advisory team managing director Ling Yang said: “Carlyle sees strong growth potential in the peptide API CDMO business, as well as great opportunities in the generic peptide business.

“Ambio is well positioned to capture these significant growth opportunities by capitalizing on its demonstrated strong technical capabilities and high quality. Its business model offers customer nimbleness and cost advantage.

“We look forward to leveraging Carlyle’s healthcare network and capital markets knowhow globally and in China to help Ambio in its next phase of growth.”

Ambio chairman and founder Chris Bai said: “We are delighted to be partnering with Carlyle. As one of the top peptide CDMO providers with sizeable production activities in both the U.S. and China, we offer world class quality standards while enjoying significant cost advantages.

“We believe that Carlyle’s experience and global network will help us forge new partnerships to capture the surging demand for our services. We are also excited that Carlyle Asia team’s strong local connections will help expedite our growth strategies in China.”

MVM partner Eric Bednarski said: “MVM was the first institutional investor in Ambio. Since our investment in November 2014, Ambio has increased revenue more than 350% and built a highly profitable business. We are pleased to add Carlyle as an institutional partner and will continue working with management to drive future success of the company.”

The Carlyle Group has invested more than US$11.5 billion of equity in more than 65 transactions in the global healthcare industry as of June 30, 2018. In Asia, Carlyle has invested approximately $1.5 billion in 10 healthcare companies.

As one of the first and most active international PE investors in China, Carlyle has adopted a local approach towards investments in China for two decades. Carlyle has invested more than $8 billion of equity in nearly 100 private equity transactions across China through its US dollar and RMB investment vehicles.

Source: Company Press Release