Sanofi hires Messier Maris to conduct CEPiA sale - MergerMarket
French pharma group Sanofi [EPA:SAN] has mandated Messier Maris to sell contract manufacturing subsidiary CEPiA, three sources familiar and a sector banker said.
The process is at an early stage, the sources said, with the company expected to come to auction in March, one of them added.
Sanofi is sounding out large-cap private equity bidders, the first and second of the sources familiar said. Some funds are trying to preempt the process, the second source familiar said.
CEPiA generates approximately EUR 60m EBITDA on EUR 500m sales, said the first source. It posted EUR 400m in sales in September 2013, 90% of which came from outside France, according to CEPiA’s vice president, Jacques Tavernier, at the time.
CEPiA supplies intermediates and active pharmaceutical ingredients (APIs), custom synthesis and API contract manufacturing from small molecules to biologics, ranging from lab scale to commercial quantities.
To handle complex industrial projects, CEPiA relies on Sanofi’s wide industrial network of 16 chemical and biotech sites located in six countries. It manufactures intermediates and APIs for third parties and has more than 200 APIs on catalogue sold in more than 80 countries.
Sanofi declined to comment. Messier Maris did not return requests for comment.