Airnov offers controlled environment packaging like canisters, desiccant systems and specially designed plastic bottles for the healthcare sector to protect items from oxygen and moisture
One of the Airnov site. (Credit: PRNewswire/ Colorcon)
Pharmaceutical film coatings firm Colorcon has inked a put agreement to purchase French Airnov Healthcare Packaging from private equity firm Arsenal Capital Partners.
The deal is anticipated to be finalised in the first quarter of 2023, pending French Works Council approval and appropriate regulatory approvals.
Airnov offers critical healthcare industries controlled atmosphere packaging solutions to protect their products from oxygen and moisture.
The packaging solutions include specialised plastic bottles with oxygen barrier materials as well as customisable, high-quality drop-in products like canisters and packets.
The company employs about 700 employees and has manufacturing facilities in the US, France, China, and India.
The deal aligns with Colorcon’s goal to improve health and well-being through convenience, compliance, and safety.
Colorcon CEO Simon Tasker said: “The acquisition presents a good match for our companies as a key strength of Colorcon is the breadth of customer relationships across the pharmaceutical industry, including contacts at all levels in R&D, supply chain, and procurement.
“The addition of Airnov would be complementary to Colorcon’s portfolio and provide synergies in terms of technical, customer and regulatory support to accelerate our customers’ product development and commercialisation.”
Tasker added: “This contemplated acquisition reflects Colorcon’s goal to invest in innovative solutions that help our customers increase speed to market while leveraging our scale and infrastructure to deliver dependability and consistency for the supply of health and wellness products around the world.”
The pharmaceutical film coatings firm delivers products and support services to the pharmaceutical, nutritional, and animal health industries around the world.
Airnov president and managing director Matthias Brommer said: “Colorcon’s ownership would bring improved geographic coverage and provide our customers added value through their pharma focus and complementary product portfolio.
“Colorcon understands the impact of speed to market in the competitive, fast-paced pharmaceutical industry and would help us to support our customers in the production of highly effective products in reduced time frames.”