Mequon-based pharmaceutical company
MPP Group has been acquired by Waukesha-based private equity firm
Milwaukee Capital Partners.
Terms of the all-cash acquisition, which closed on May 1, were not disclosed.
Concordia University Ventures, led by
Daniel Sem, also made an investment into MPP Group.
MPP Group specializes in providing contract analytical services and product research and development. The company's primary focus is on development and formulations of injectable drug products.
MPP Group's services include analytical development and validation, formulations development, container/closure screening, and elemental impurities analysis/risk assessments.
The acquisition of MPP Group by MCP will allow for a cash infusion into the business to advance specialized analytical services and support additional capital investments, the firm said in a news release.
"With a burgeoning focus on repatriating pharmaceutical development and manufacturing into the U.S., we believe that MPP is well positioned for partnering with pharma and biotech both domestically and internationally to capitalize on these opportunities," said
Thomas Kintis, managing partner at MCP.
MPP Group operates a facility in
Mequon Technical Park that includes five FDA-inspected laboratories that span more than 12,000 square feet of space. The facility includes space for future expansion.
"MPP Group will maintain its company headquarters in the Mequon Technical Park, a rapidly growing area of scientific and soft manufacturing excellence as they advance their investment interests into pharmaceutical contract research and development," according to a Monday announcement.
Benjamin Nelson, Ph.D., MPP's current president and head of product development, will continue to lead MPP Group's daily operations.
