On February 4, an investment consortium led by Signet Healthcare Partners, Bionpharma, Inc., and GMS Capital Partners LLC announced the formation of Pharma Nobis, LLC to acquire Fagron's contract manufacturing business in the United States. Based in Texarkana, Texas, this business unit offers contract manufacturing and private-label services to consumer healthcare firms and retailers throughout the United States. Fagron will maintain a 20% stake in the company. The CEO of Pharma Nobis is Todd Daviau, a co-founder and former President and CEO of CoreRx, a well-known contract development, and manufacturing company. He has been named CEO of Pharma Nobis.
James Gale, Managing Director at Signet Healthcare Partners, noted, We are enthused about the opportunity to invest in this business. Fagron has developed into an outstanding company with a reputation as a cost-competitive manufacturer with a high service rating. We and our equity partners will seek to build on this capability and support the Pharma Nobis management team in growing their business.
"I appreciate the opportunity to work with the Signet investment team again and am excited about this opportunity to take Pharma Nobis to the next level in personal care manufacturing. We will seek to serve our customer base through reliable service and innovation."
-The CEO of Pharma Nobis is Todd Daviau
Along with Todd Daviau, James Gale, Dr. Theron Odlaug, Yezan Haddadin, and Andrew Pulido will join the company's Board of Directors, which was announced in conjunction with the acquisition. Dr. Odlaug is a seasoned executive in the pharmaceutical industry and a Signet Venture Partner. GMS Capital Partners LLC is led by Yezan Haddadin. Fagron North America is led by Andrew Pulido. Troutman Pepper served as the acquiring syndicate's legal counsel.