MONITOR CLIPPER PARTNERS ACQUIRES PHARMETICS
TORONTO, Ontario – May 12, 2011 –
Monitor Clipper Partners (“MCP”), a Boston-based independent private equity firm, today announced that it has acquired the assets of Pharmetics Inc. (“Pharmetics”)(excluding the Fort Erie manufacturing facility). Based in Laval, Quebec, Pharmetics has a sale office in Toronto, a manufacturing facility in Burlington, Ontario, a distribution center in Cornwall, Ontario and a laboratory in Blainville, Quebec. It is Canada’s largest privately-owned store brand VMS (vitamin, mineral and dietary supplements) and over-the-counter drug manufacturer. With a 55-year history, Pharmetics is a leading company in the industry with long-standing relationships with blue-chip customers. Estimated to have the largest share of the market, Pharmetics boasts over 400 products and more than 1,100 SKUs that are delivered to some of Canada’s largest grocery and pharmacy chains.
“Pharmetics is a successful Canadian company with a significant share of the market. Our number one focus is on quality manufacturing and providing exceptional customer service,” said William (Bill) Young,
Managing Partner of MCP. “Our objective is to use our expertise in the health and pharmaceutical industry, along with our extensive financial resources, to help Pharmetics continue to grow over the long term through its product development and innovation. We will continue to meet the growing needs of Pharmetics extensive and highly respected clients with continued attention to quality products and best in class service.”
Mr. Young, a founding partner of MCP, will be appointed Pharmetics interim Chief Executive Officer and Executive Chair.
About Monitor Clipper Partners
MCP was formed in 1998 in partnership with the Monitor Group (“Monitor”), a leading international strategy consulting firm founded in 1983 with approximately 1,000 professionals in 29 offices worldwide. MCP targets growth-oriented businesses with strong management teams that can benefit from the firm’s unique capabilities and proprietary relationship with Monitor to generate superior risk adjusted private equity returns in management buyouts and late-stage growth equity investments. With offices in Boston and Zurich, MCP currently manages over US$2.0 billion of capital in North America and Western Europe.
For further information, contact:
Bill Young at 617-252-2291.