API and chemistry services provider GL Chemtec (GLC) has attracted private equity backing to grow its North American CRO business.
The Oakville, Ontario firm announced Edgewater Capital Partners as a new backer this month, citing the investor’s “deep sector expertise in life sciences and pharma services” as a major potential benefit.
GLC president and co-founder Gamil Alhakimi said, “We are excited to be partnering with Edgewater to accelerate the growth in our API and advanced materials capabilities where we have seen significant added demand over the past couple of years.
“The expertise that Edgewater brings is not only financial, but operational and commercial expertise in the Pharma Services sector that will help us achieve our vision.”
According to Lisa Studnicki Hunt, GLC co-hounder and COO, Edgewater’s support will help the firm take advantage of growth opportunities in the North American market.
“We feel that this is a very important move in order to best accommodate the needs of our customers who are looking to onshore long-term R&D and manufacturing collaborations. We believe that now, more than ever, it is time to step up and secure the North American development and supply of advanced chemical intermediates, APIs, and new materials.”
GLC provides R&D services including multi-step organic synthesis of next-generation therapies.
The firm recently established a new facility housing a scale-up lab, two pilot plant suites, material science laboratory, including cleanrooms for advanced material development.
Edgewater Capital Partners, which is described as a lower middle-market private equity firm, has several other investments in the contract services.
For example, in 2020, the firm invested in analytical services contractor Prolytix citing its protein chemistry capabilities and customer base of mAb, recombinant proteins, cell and gene therapy and vaccine developers as key.
Edgewater also has a holding in processing, manufacturing, and formulation services provider Particle Dynamics.
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