SPE AIF I invests in Future Pharmaceutical Industries, a fast-growing Egyptian generic pharmaceuticals manufacturer
SPE Capital Partners (“SPE”) and Future Pharmaceutical Industries (“FPI”) are pleased to announce the signature, on March 21st, of binding agreements in relation with an equity investment by SPE AIF I, a private equity fund managed by SPE Capital, in FPI, sealing their partnership and materializing discussions that took place over the past year.
FPI, founded in 2007 and led by its founder and Chairman, Dr Gamal El Leithy, is among the fastest growing branded generic pharmaceuticals manufacturers in Egypt. With its state-of-the-art facility, FPI has developed an unmatched expertise in manufacturing high quality generics. The company has significantly increased its market share in the growing Egyptian pharmaceutical sector and enjoys a great reputation of quality and of manufacturing excellence. FPI also stands as the manufacturing partner of choice for renowned multinational industry leaders such as Sanofi and Novartis.
The partnership between FPI and SPE aims to enable the company to accelerate its growth, invest in new lines to produce new forms and develop export markets over the next years.
Commenting on the partnership, Dr El Leithy said: “Our growth has been accelerating over the past years and we felt this is the right time to have an institutional investor like SPE join us to support our fast growth and help institutionalize the company. We have great plans for FPI for the years to come and look forward to combining our strengths with those of SPE to materialize them.”
Mehdi Charfi, Managing Partner who led the transaction on behalf of SPE said: “This is our second investment in the Egyptian pharmaceutical sector, after a first successful investment over 2013-2017. We believe the pharmaceutical sector in Egypt has strong fundamentals of growth and resilience. Within the sector, players with solid management, manufacturing excellence and strong marketing know-how, like FPI, can significantly outperform the market. Today, we are happy and excited to join forces with Dr Gamal El Leithy to take FPI to the next level.”
Closing of the transaction is subject to the satisfaction of customary closing conditions and is expected to take place before mid-year.
About SPE Capital
SPE Capital is a private equity firm formed in 2016 from a spinout from Swicorp, a leading regional investment banking firm. The SPE Capital team has invested over USD 1 billion since 2005, across Africa and the Middle East. SPE Capital is led by an experienced investment team, with a combined experience of more than 60 years investing in growth companies.
About Future Pharmaceutical Industries
Established in 2007 in Egypt, FPI is a pharmaceutical company engaged in the manufacturing and the marketing of own branded generic medicine as well as the manufacturing for third parties including multinational pharmaceutical firms such as Novartis or Sanofi.