Bourne Partners Facilitates Sale of Endo’s Alabama Manufacturing Facility to Consortium of Buyers
December 17, 2018
Capital Recovery Group, Federal Equipment Company, Heritage Global Partners, and PPL Group LLC have jointly purchased a pharmaceutical manufacturing and packaging facility from Endo International plc (“Endo”) in Huntsville, Alabama. Terms of the transaction were not disclosed.
The 110-acre, 800,000 square foot space will be redeveloped as a multi-use facility that will accommodate a variety of uses. The three independent buildings on site include 275,000 square feet of distribution warehouse space and offices, 330,000 square feet of oral solid dose facility space, and around 195,000 square feet of non-sterile liquids manufacturing facility space. The site also presents two available pads for future expansion.
In early 2018, Endo engaged Bourne Partners to advise on the exploration of strategic alternatives for its Huntsville, AL facility and the rights to a portfolio of associated ANDAs. In May 2018, Lannett Company, Inc. (NYSE: LCI) acquired a basket of the oral liquid and semi-solid ANDAs, and soon thereafter an undisclosed buyer purchased a majority of the remaining oral solid ANDAs. Finally, Bourne was able to source the eventual buyers of the real estate listed above.
About Endo International plc
Endo International plc (NASDAQ: ENDP) is a highly focused generics and specialty branded pharmaceutical company delivering quality medicines to patients in need through excellence in development, manufacturing and commercialization. Endo has global headquarters in Dublin, Ireland, and U.S. headquarters in Malvern, PA. For more information, visit www.endo.com.