Acquisition of botanical extract businesses for a PE-backed Indian ingredients platform
Buyer overview (confidential)
- PE-backed Indian maker of plant-extract ingredients for global nutraceutical and wellness brands
- Revenue: ~US$52M in FY26 (₹500 cr), up from ~US$37M the year before
- EBITDA margin: 22–23%
- Exports: ~80% of sales: US, Europe, Korea, Japan, Australia/NZ
- Portfolio: 60–70 core ingredients, refined to up to 99% purity
- US presence: New Jersey, California, Texas
- Funding: large new round being raised to fund acquisitions; listing planned
Acquisition rationale
- Get access to customers and a local presence in the respective geography
- Buy stable businesses and combine them with its own
Target criteria
- Business: botanical and plant-extract ingredient makers (preferred), or ingredient distributors (US only)
- Geography: US (any region), Europe (e.g. Spain, France) and Australia/NZ preferred; other regions also considered
- Revenue: US$5–50M
- Profitability: must be profitable; no minimum EBITDA margin
- Customer concentration: ideally no single customer above 20–25% of revenue
- Ingredients: open to all; specialty or unique ingredients is a plus (e.g. lutein from marigold, ashwagandha, rosemary, pistachio)
- Number of deals: open to more than one acquisition
Exclusions
- Loss-making businesses or turnarounds
- Technology or pre-revenue companies
Wholesale Distribution & Retail of Medical Devices
Company is specialized in Wholesale Distribution & Retail of Medical Devices, offering a broad portfolio of medical devices, including solutions for diabetes management, blood pressure monitoring, respiratory care and other healthcare applications.
The Company benefits from a diversified business model, serving both B2B and B2C customers through retail stores, e-commerce, and professional sales channels. Long-term partnerships with leading international suppliers, secured under open-ended distribution agreements, support a resilient, high-margin business, consistently achieving gross margins above 20%. For 2026, the company projects EUR 4.6m revenues and EUR 0.97m EBITDA. The transaction includes the sale of a majority stake.
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NUTRIBRAIN
PharmaX Solutions sold to BioPhorum (Five Arrows)
Hoffmann & Partner, the Basel-based M&A advisory firm specialising in healthcare, acted as the exclusive financial advisor to the shareholders of PharmaX Solutions.
BioPhorum, a portfolio company of Five Arrows, has acquired PharmaX Solutions, a consultancy specialising in digital transformation and end-to-end digital manufacturing solutions across pharmaceutical manufacturing and production environments.
PharmaX Solutions specialises in the design, implementation, and integration of digital manufacturing systems, including MES, automation platforms, and quality systems, with deep expertise in GxP-regulated environments and IT/OT convergence. PharmaX Solutions operates across four international offices located in Germany, Spain, Denmark and Switzerland.
BioPhorum enables the global biopharmaceutical industry to connect, collaborate, and accelerate progress for the benefit of all. Founded in 2004, BioPhorum has evolved from an end user forum into a globally trusted, industry led organisation that brings together senior leaders and subject matter experts from across the biopharma value chain.
Five Arrows is the alternative assets arm of Rothschild & Co and has €33 billion AuM with offices in Paris, London, New York, Los Angeles, San Francisco and Luxembourg.
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