Simpson Thacher is representing investment funds managed by Advent International Corporation in connection with the sale of Grupo Somar (including Grupo Farmacéutico Somar, Quimica y Farmacia, Gelcaps and related entities) (“Grupo Somar”) to Procaps Group, S.A. (NASDAQ: PROC) (“Procaps”). The transaction is expected to close in the fourth quarter of 2022, subject to the satisfaction of customary closing conditions, including the approval of the Federal Economic Competition Commission (“COFECE”) in Mexico.
Grupo Somar is a leading integrated pharmaceutical company focused on developing, manufacturing and marketing high-quality branded generic, private label and OTC products targeted to the private market and offering contract development and manufacturing organization (“CDMO”) services across key market segments in Mexico. Procaps is a leading developer of pharmaceutical and nutraceutical solutions, medicines and hospital supplies that reach more than 50 countries in all five continents.
The Simpson Thacher team for the transaction includes S. Todd Crider, Juan M. Naveira, Luiz F. Noronha, Susan Uquillas Mosquera and Fernando J. Friedmann Junior (M&A); Russell Light (Tax); Peter Guryan and Max Fischer-Zernin (Antitrust); Steven R. DeLott (Insurance); Lori E. Lesser, Bobbie Burrows and Samuel Watters (Intellectual Property & Cybersecurity); Michael Vernace (Banking & Credit); and Tristan Brown (ECEB).