Ridgemont Equity Takes Majority Stake In Gallus
The Wall Street Journal
May 18, 2011
By Beina Xu
Bank of America spin-off Ridgemont Equity Partners' latest investment is a majority stake in Gallus Biopharmaceuticals LLC, a St. Louis-based biologics contract manufacturer.
Enterprise Bank & Trust provided senior financing for the deal.
The investment from Ridgemont facilitated Gallus' acquisition of a biologics manufacturing plant from Centocor Biologics LLC. The plant currently makes Remicade, a drug treatment for Crohn's Disease and rheumatoid arthritis, and Stelara, which treats plaque psoriasis, a skin disease.
Ridgemont's investment will also be used to build a clinical services suite and expand the existing development lab. "We see a tremendous market opportunity in the biologics contract manufacturing space," the firm said in a statement.
Ridgemont has recently concentrated on the telecommunications sector, with its buildout of Lightower Fiber Networks, Unite Private Networks LLC. The firm focuses on investments of $25 million to $75 million per deal.
