Advent Buyout of Ozone Nears Completion

U.S. based Advent International is poised to complete a takeover of Central and Eastern European drug maker Ozone. The companies are now in the final talks that would give Advent, also the owner of LaborMed, full ownership of Ozone’s product lines. The buyout offer had been accepted by Ozone earlier this month, giving control of the company’s portfolio to LaborMed.

The size of the transaction has not been disclosed, nor has Advent publicly commented, but estimates put the deal at EUR 20 million or less. Once complete, Advent hopes the combination of LaborMed and Ozone will result in annual sales in excess of EUR 60 million, a 3% market share, and a top ten position in the Romanian market.

Ozone Laboratories (www.ozonelaboratories.com)
Founded in 2001, Ozone Laboratories is a pharmaceutical developer and manufacturer focusing primarily on generic and branded prescription drugs, and over-the-counter products. They also manufacture a limited product line of food supplements and medical devices.

The company is headquartered in London, operating facilities Bulgaria, the Czech Republic, Poland, Romania, and Slovakia. Partnerships in Asia, Europe, and North America help provide for Ozone’s product manufacturing. As of 2008 the company employed nearly 500 people.

Advent International (www.adventinternational.com)
Founded in 1984, Advent International is one of the world’s leading global buyout firms, with buyout offices in 15 countries on four continents. Since inception, Advent has raised USD 24 billion in private equity capital and completed more than 200 buyout and private equity transactions valued at over USD 36 billion in 35 countries.

Advent International has been investing across Central & Eastern Europe since 1994 and has local offices in Warsaw, Prague, Bucharest and Kiev. In April 2008, the firm announced the closing of its fourth fund for the region, ACEE IV, at € 1 billion.