“This transaction allows us to regain our strategic flexibility,” explains Uwe Röhrhoff, CEO of Gerresheimer AG. “At the same time, as a leading global partner to the pharmaceutical and biotech industries, we are focusing our business even more strongly on high-value drug delivery and medical devices, and primary packaging for injectable drugs.”
“Centor and Primary Packaging Plastics are market leaders in prescription vials and primary pharmaceutical packaging, built on a decades long reputation for quality and reliability. We have significant experience in carveouts and, together with our Operational Excellence Practice, we will work alongside management to establish a strong, standalone company positioned for long term growth,” says Anders Meyerhoff, Partner at Apax.
“Healthcare packaging plays a critical role in patient safety, with Centor’s and Primary Packaging Plastics’ products used to dispense medicines safely to millions of patients every day. As an independent company backed by the Apax Funds, the business will have the capital to invest in capacity, innovation and US expansion, building on its global leadership in healthcare packaging,” adds Mehmet Tar, Principal at Apax.
16 production sites in nine countries
The Apax Funds are acquiring the business providing packaging systems for dispensing prescription drugs in the U.S. and the global business for primary plastic packaging—representing a combined enterprise value of approximately 1.5 billion euros. In addition to the Centor site in the United States, the transaction includes a total of 15 production sites for primary plastic packaging in nine countries. In 2025, the two businesses generated combined revenue of approximately EUR 570 million with a total of around 2,400 employees.
Significant optimization of the capital and financing structure
“This transaction is an important milestone in optimizing our capital and financing structure, decreasing our leverage significantly,” says Wolf Lehmann, CFO of Gerresheimer AG. “We will use the expected cash inflows to accelerate our debt reduction. Together with the planned comprehensive refinancing, this will significantly reduce our interest expenses and achieve a sustainable capital structure. In addition, the continued implementation of our transformation program will also have a positive impact on our operating and free cash flow.”
Completion of the Centor sale before the end of this financial year
The transactions are subject to customary closing conditions and approvals. Gerresheimer expects to complete the sale of Centor by the end of financial year 2026. The sale of the global Primary Packaging Plastics business is expected to be completed in the first half of financial year 2027.
Morgan Stanley & Co. International plc is serving as lead financial advisor to Gerresheimer. Commerzbank also supports as financial advisor and has provided fairness opinions. Latham & Watkins is serving as legal counsel to Gerresheimer.
About Apax
Apax is a global private equity advisory firm investing in mid-market businesses across the Technology, Services, and Internet/Consumer sectors. Combining the scale of a global firm with the focus of a sector specialist, Apax works with management teams to create long-term value through operational value creation. With more than 50 years of private equity experience in operational value creation, Apax has raised and advised funds with aggregate commitments of approximately $80 billion.
www.apax.com
About Gerresheimer
Gerresheimer is an innovative systems and solutions provider and a global partner for the pharma, biotech and cosmetic industries. The Group offers a comprehensive portfolio of primary packaging solutions including closures and accessories, as well as drug delivery systems, medical devices and solutions for the health industry. The product range includes infusion, dropper and syrup bottles, tablet containers, vials, syringes, pens, auto-injectors, inhalers, ampoules, cartridges, on-body devices as well as digital solutions for therapy support. Gerresheimer ensures the safe delivery and reliable administration of drugs to the patient. Gerresheimer supports its customers with comprehensive services along the value chain and in addressing the growing demand for enhanced sustainability. With 39 production sites in Europe, America and Asia, Gerresheimer has a global presence and produces locally for regional markets. Together with Bormioli Pharma, the Group generated revenues of around EUR 2.3bn in 2025 and employs over 13,000 people. Gerresheimer AG is listed on the Frankfurt Stock Exchange (ISIN: DE000A0LD6E6).
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