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Weil, Gotshal & Manges Advises Montagu Private Equity on the Proposed Acquisition of Rexam Healthcare Devices and Prescription Retail Divisions

Montagu Private Equity, a leading pan-European Private Equity investor, has made a binding offer to Rexam PLC to acquire its Healthcare Devices and Prescription Retail divisions alongside its management team, for a total transaction value of $805 million.

Healthcare Devices, headquartered in France, is a leading European manufacturer of plastic drug administration systems for the pharmaceutical industry. Healthcare Devices operates four state of the art manufacturing plants in the US and Europe and generates annual sales of approximately $265 million. Prescription Retail, based in Ohio, provides plastic vials and closures used by pharmacies in the US. It manufactures more than 1.5 billion vials annually and owns market leading brands.

Montagu was advised by a multijurisdictional Weil, Gotshal & Manges team for the transaction and its financing. The team was led by Paris corporate partner David Aknin with corporate senior associate James Harvey, IP partner Barry Fishley and associate Muzaffar Shah and tax associate Ian Ferreira in London, banking partner James Clarke and corporate partner Jean Beauchataud and associate Julien Malraison in Paris and banking partner Courtney Marcus and associate Aaron Turner in Dallas.

Rexam PLC was advised by Allen & Overy with a team led by Alun Eynon-Evans.

This news was reported in the following outlets (may require registration/subscription):

  • The New York Times DealBook: Montagu to Buy Bulk of Rexam’s Health Care Business (February 3, 2014)
  • Law360: Montagu Strikes $805M Deal For Rexam’s Health Care Biz (February 3, 2014)
  • The Deal: Montagu to buy two Rexam healthcare packaging units (February 4, 2014)