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September 21, 2011

Deal Alert: Franklin Templeton PE invests Rs.45-Cr in Symbiotec Pharma

Edited excerpts from the Press Release:

Franklin Templeton Private Equity Strategy, a private equity portfolio advised by Darby Asia Investors (India) Limited, has invested Rs 45 crore in Symbiotec Pharmalab Limited.

Symbiotec is engaged in research, development, manufacturing and marketing of research based Active Pharmaceutical Ingredients (“API”s) for corticosteroids and hormones. It has an extensive product portfolio of over 40 corticosteroids and hormones APIs and supplies its products to leading pharmaceutical companies in India and overseas including marquee names such GSK Pharmaceuticals, Teva, Ranbaxy and Cipla. The funds raised from FTPES will be applied towards backward integration by setting up fermentation facilities which is expected to improve the Company’s competitive positioning and profitability. This also is expected to help the Company to attract customers from highly regulated markets such as US, Europe and Japan.

Systematix Capital Services Pvt. Ltd was the exclusive advisor to Symbiotec for this transaction.

Mr. Anil Satwani, Managing Director, Symbiotec Pharmalab Private Limited, said of the deal “We at Symbiotec, look forward to benefiting from Franklin Templeton’s global experience and achieving the common goal of transforming Symbiotec into an Integrated Steroids Solution provider to the global Pharmaceuticals industry”

Franklin Templeton Private Equity Strategy is a private equity investment product offered to high net worth individuals in India, and was established in 2008 with total capital commitments of Rs 6300 million (US$147 million). FTPES makes selective investments in high growth, mid-sized and unlisted Indian companies.

Darby is the private equity arm of Franklin Templeton Investments, and manages a range of private equity, mezzanine, and infrastructure funds in Asia, Latin America, and Central and Eastern Europe. Darby was founded in 1994 by The Honorable Nicholas F. Brady, who served as U.S. Secretary of the Treasury between 1988 and 1993. In 2003 Darby became a fully owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments.

Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and $716 billion in assets under management as of August 31, 2011.