The Riverside Company’s A.forall Platform Acquires Provepharm’s U.S. Generics Portfolio

The Riverside Company (Riverside), a global investment firm focused on the smaller end of the middle market, is pleased to announce that A.forall, one of the portfolio companies of its affiliated European fund, has acquired Provepharm’s U.S. generics portfolio. The transaction includes four FDA-approved and marketed sterile injectable drugs and two late-stage pipeline assets.

The four commercialized drugs are Dihydroergotamine Mesylate (neurology – migraine and cluster headache management), Piperacillin/Tazobactam (infectious disease – broad-spectrum antibiotic for hospital-acquired infections), Tranexamic Acid (hematology – bleeding control in surgical and trauma settings) and Phenylephrine Hydrochloride (anesthesiology – management of hypotension during surgery). The products are sold in the U.S. through pharmaceutical distributors and group purchasing organizations with strong integration into hospital protocols and high clinical familiarity. The two late-stage pipeline products address complementary therapeutic niches and are expected to launch in the coming years.

Riverside originally acquired a majority stake in A.forall, a Belgian developer and manufacturer of generic drugs and distributor of medicines commercialized worldwide, in December 2017. Since then, the company has successfully registered six products (mainly injectables) in the U.S. market.

Karsten Langer, Managing Partner at Riverside Europe, commented: “This transaction marks Riverside’s second add-on to A.forall and its first U.S. bolt-on to the platform. The U.S. is a vital market for any internationally focused pharmaceutical company, and we look forward to continuing to support the talented management and staff at A.forall as they seek to integrate this portfolio and keep building the group’s product range and market reach.”

Damien Gaudin, Partner and Head of Healthcare at Riverside Europe, who led the transaction, commented: “This acquisition ties perfectly with A.forall’s renewed focus on developing, commercializing and adding value to medicines, increasing their availability across the globe. It provides instant access to a portfolio of well-established U.S. drugs, each addressing essential therapeutic needs. This add-on represents a key development in the continued successful growth journey of A.forall.”

Steen Vangsgaard, CEO of A.forall, added: “The investment delivers immediate scale and diversification benefits to A.forall’s U.S. business. It creates cross-selling opportunities with our existing portfolio, strengthens brand recognition and expands our commercial presence in the world’s largest pharmaceutical market.”

This transaction is the latest example of Riverside’s dedication to the healthcare industry. Since its inception in 1988, Riverside has invested in more than 220 healthcare companies, supported by a global team of experts focused on helping these businesses grow.

Working with Gaudin on the transaction were Riverside Europe Vice President Maxime Meulemeester, Senior Associate Sebastiaan Pauwels and Associate Clément Gabriel. Bourne Partners served as the exclusive financial advisor to Provepharm on the transaction.