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Wednesday, 21 December 2016

Alta Semper Capital and CI Capital Partners acquire stake in healthcare products outfit Macro Pharma

US-based Alta Semper Capital and CI Capital Partners acquire stake in healthcare products outfit Macro Pharma. The private equity arm of CI Capital Partners and US PE outfit Alta Semper have announced “a partnership” with Macro, the companies said in a joint statement issued last night (pdf). Founded in 2002, by Dr Ahmed El Nayeb and Dr Mohamed Sobhi, Macro’s staff of 750 produces and markets “64 products across seven therapeutic areas, including skin care, haircare, feminine care, anti-scar, oral care, antiseptics and muscle relaxants, under the Gold, Orovex, Verdex, Cordo and Scaro brands.” The company’s footprint spans 50,000 “physicians, centers and pharmacies nationwide,” the statement says. Both El Nayeb and Sobhi will stay on following the acquisition as chairman and CEO, respectively. The statement does not specify the size or value of the stake CI and Alta Semper have acquired. Alta Semper and CI Capital Partners were advised by Matouk Bassiouny and Norton Rose Fulbright. CI Capital Investment Banking acted as the financial advisor to Macro Holding and the founders. Al Tamimi & Company acted as the legal advisor to Macro Holding and the founders.

So what’s Alta Semper, anyway? Alta Semper “looks to invest in high growth, yet defensive sub-sectors within the consumer, healthcare and enabling technology sectors.” The US-based firm was founded in 2015 by Afsane Jetha (formerly MD in charge of African PE at Duet), Ronald Lauder (of the Esthée Lauder family and chairman of Clinique Laboratories) and Dick Parsons (former chairman of both Citigroup and TimeWarner). The transaction is Alta Semper’s first investment in Egypt.

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