(Press Release) H.I.G. Capital, a leading global private equity investment firm with $19 billion of equity capital under management, is pleased to announce it has completed a strategic investment in Halex Istar to facilitate the acquisition of Isofarma, both leading manufacturers of pharmaceutical parenteral solutions in Brazil.
Headquartered in Goiânia and with nearly 60 years of history, Halex Istar is one of the leading domestic manufacturers of large volume parenteral solutions (“LVPS”) with presence in all Brazilian regions. With cutting-edge technology, a robust operating structure and a highly effective sales force, the Company offers a broad portfolio of medicines to hospitals and clinics throughout Brazil. Isofarma, based in Fortaleza and with over than 15 years of history, also operates in the same segment, but with an emphasis on small volume parenteral solutions (“SVPS”). It also has a broad national reach.
The identified synergies will enable both companies to better serve their existing customers, providing a wider range of products, as well as improved efficiencies.
“In order to expand our business and increase Halex Istar’s presence in the market, we were looking for a partner that is strong in all aspects and we chose H.I.G., due to its global investment capabilities and its strong presence in Brazil. We are confident that we will achieve our goals in a short period of time,” said Zanone Alves de Carvalho, founding partner of Halex Istar.
Fernando Marques Oliveira, Managing Director and Head of H.I.G. Brazil and Latin America, said: “We are very pleased to be part of the continuing history of Halex Istar. Along with Isofarma, we believe in the enormous potential of the Company. Despite a challenging macroeconomic scenario, both companies have been growing steadily over the past few years. With the support of a highly qualified management team and with the shareholders’ deep industry knowledge, we will accelerate the Company’s organic and inorganic expansion.”