Private equity firm PAG said it has invested $145 million (₹1,054 crore) to acquire a controlling stake in Acme Formulation Private Ltd. and would partner Acme’s founder Viral Shah who will continue as Managing Director and CEO. He will also retain a significant minority stake in the company.
Founded in 2005, Acme provides contract development and manufacturing services to Indian and global pharmaceutical companies. The firm focuses on products such as sterile injectables, hormones, and other complex oral solid formulations. It exports to more than 40 countries.
Nikhil Srivastava, Partner and MD, Head of India private equity at PAG said, “The company has built a reputation for high-quality manufacturing, as well as a leading presence in several attractive market segments. Acme has a strong, execution-oriented leader in Viral Shah, and we are looking forward to working with him to help accelerate Acme’s already significant growth.”
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