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news.RoundTable Healthcare Partners' portfolio company Renaissance Acquisition Holdings has acquired DPT Laboratories, a pharmaceutical contract development and manufacturing organization with facilities in San Antonio, TX and Lakewood, NJ.
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With the new acquisition, Renaissance has access to world-class semi-solid, liquid, and sterile pharmaceutical contract development and manufacturing capabilities of DPT Laboratories.
Under the deal, the current shareholders of DPT will maintain a meaningful equity stake in the combined business.
RoundTable has completed new senior credit facilities and a private placement of senior subordinated notes to fund the acquisition of DPT and further growth opportunities.
Renaissance president and CEO Pierre Frechette said, "We are committed to supporting DPT’s leading market position in semi-solid contract manufacturing and development as well as their emerging business in sterile manufacturing and specialty products."
DPT’s parent company DFB Pharmaceuticals chairman and CEO Paul Dorman said RoundTable’s depth of experience gave DFB confidence to work exclusively with them to execute on the strategic plan that will drive accelerated growth at DPT.
"The existing DPT management team will continue to run day-to-day operations at DPT while assuming additional responsibilities within Renaissance," Dorman added.
Renaissance chairman and RoundTable founding partner and co-chairman Lester Knight said Renaissance’s acquisition of DPT is an important milestone in RoundTable’s strategy to build new pharmaceutical platforms.
""We continue to be enthusiastic about the opportunities in this important market and look forward to partnering with the DPT management team to build on their success and accelerate the growth of their business," Knight said.