Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced that its portfolio company Tropichem Research Labs, LLC has acquired Montreal, Quebec-based TetraGenx (TGX), a leading independent animal health contract development and manufacturing organization (CDMO). Terms of the transaction were not disclosed.
TGX specializes in complex drug product formulation development to create innovative pharmaceutical, over-the-counter and nutraceutical veterinary pharma products. The company’s services encompass four main categories: product development (preformulation, formulation, and analytical development), analytical testing, manufacturing and ancillary support services.
TGX’s Montreal, Quebec, location will remain in place and will complement Tropichem’s facility in Florida. TGX’s management team will also continue to serve customers with the same specialized capabilities and know-how.
“We are excited to partner with the Tropichem team to expand our capabilities and provide exclusive independent drug development and contract manufacturing for the animal health industry,” TGX President Kevin McDonnell said. “Tropichem is a great complement to the TGX brand and mission.”
“The addition of TetraGenx to Tropichem gives us much expanded service capabilities and reach in the animal health industry and will provide to customers a ‘one-stop’ for product development and manufacturing,” Tropichem CEO John Kane said. “TGX has long been known to us for their management’s commitment to excellence and quality. We’re very excited to have them become part of the team.”
“We’re delighted to welcome TetraGenx to the Tropichem family,” TSCP Managing Director Matt Scherrer said. “TGX is a leading provider of independent drug development services for the animal health industry and is widely known for their superior products… TGX’s knowledge, experience, work ethic and adherence to industry quality standards makes them a perfect match for Tropichem.”
PricewaterhouseCoopers Corporate Finance LLC, Gowling and Ernst & Young served as advisor to the selling shareholder group; for Tropichem Research Labs, Sidley Austin and McCarthy Tétrault provided legal counsel for the cross-border transaction, and KPMG provided tax and accounting diligence throughout the transaction process.