EXEO Capital acquires control stake in animal pharma firm

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Cape Town-based EXEO Capital has made its first investment in the animal pharmaceutical sector, acquiring a majority stake in Chemical Process Technologies (or CPT) on behalf of the private equity firm’s second Agri-Vie Fund for what a representative described as being a significant amount of capital. The deal is the tenth transaction for the $175 million Agri-Vie Fund II which has now deployed 80% of its capital. Riël Malan and Ellora Ghosh who both worked on the transaction for EXEO will be joining CPT’s board of directors.

The Pretoria-based business is Africa’s only manufacturer of animal active pharmaceutical ingredients (or APIs) for a market that relies heavily on imports from countries like China and India. According to CPT’s website, the company already exports some of its products to 15 countries in Europe, the Americas, Africa, and Asia. As well as supplying formulated products to the animal health industry, the company also supplies intermediates to the pharmaceutical industry and fine chemicals to various other industries. It is one of the few companies opening doors for South Africa as a manufacturer and exporter of APIs, a critical sector for the economy.

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