M&As this week: Allergan Plc, Pacific Equity Partners PTY Limited (PEP), UFP Technologies

9 February 2018 (Last Updated February 8th, 2018 12:38)

Allergan Plc has signed an agreement to acquire Elastagen Pty Ltd for $95m.

Allergan Plc has signed an agreement to acquire Elastagen Pty Ltd for $95m.

Based in Ireland, Allergan is a biopharmaceutical company, while Elastagen is an Australian company.

The acquisition will provide Allergan with access to Elastagen’s injectable portfolio.

The transaction is expected to be completed upon meeting customary closing conditions and following a review by Australia’s Foreign Investment Review Board.

Pacific Equity Partners PTY Limited (PEP) has signed an agreement to acquire 100% of LifeHealthcare Group’s shares for A$3.75 ($2.97).

The cash consideration represents an enterprise value of A$211m ($167m) for LifeHealthcare.

The selling shareholders of LifeHealthcare will receive A$3.75 ($2.97) a share in cash, as part of the agreement.

The transaction is subject to customary conditions, including foreign investment review board approval and court approval.

“The acquisition will enable the company to expand its manufacturing capabilities and address customer needs.”

Pacific Equity Partners is an Australian private equity firm, while LifeHealthcare Group, also based in Australia, is a medical device and healthcare solutions provider.

UBS AG, Australia has been appointed as the financial adviser by LifeHealthcare for the transaction, while Gilbert and Tobin is the legal adviser.

UFP Technologies Inc has acquired US-based Dielectrics Inc.

Also based in the US, UFP Technologies is a plastics and specialty materials designer.

The acquisition will enable the company to expand its manufacturing capabilities and address customer needs.

US-based medical device and software company Varian Medical Systems Inc has acquired Medical Systems LP.

Also located in the US, the target company is involved in providing radiation oncology Quality Assurance (QA) software.

The acquisition will enable Varian Medical to develop its QA portfolio by using Mobius QA solutions.