Capsugel S.A. acquired by Lonza Group
Lonza Group acquired Capsugel S.A., a US drug delivery technologies brand, on Jul 6, 2017.
Preliminary: The announcement date, completion date, stake, value notes, EV/revenue and EV/EBITDA are not yet independently verified. Sources conflict on the value basis.
Transaction summary
- Target
- Capsugel S.A.
- Acquirer
- Lonza Group
- Seller
- KKR Investor profile →
- Announced
- 2016-12-15(unverified)
- Geography
- United States
- Tags
- drug delivery technologieshard capsulesHealthcareoral dosage deliverypharmaceutical manufacturing technologies
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- 100%(unverified)
- First added
- 2026-07-25
- Latest update
- 2026-10-31
Parties at the deal date
Seller
Current investor profile →KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The firm is a recognised global leader in private equity, with a long history of successful investments dating back to its founding in 1976. Although originally specialising in leveraged buy-out (control) transactions, KKR today participates in almost every asset class.
Snapshot preserved for this transaction; current company profiles may differ.
Value and multiples
100% enterprise value
USD 5.5B
100% enterprise value | USD
Basis: Public source
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
5.1x
Unverified
Period: FY2016
Basis: Estimated
EV / EBITDA
15.1x
Unverified
EBITDA basis not stated
Basis: Estimated
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Consideration: USD 5.5B
Lonza's closing announcement states a USD 5.5 billion transaction price, including refinancing of approximately USD 2 billion of existing Capsugel debt.
Basis
- Reported consideration: USD 5.5bn.
- Implied EV / revenue is 5.1x, calculated from USD 5.5bn value and USD 1.1bn revenue.
- EV/revenue is estimated.
- Implied EV / EBITDA is 15.1x, calculated from USD 5.5bn value and USD 364m EBITDA.
Source summary
Lonza Completes Acquisition of Capsugel to Create Leading Integrated Solutions
ConfirmedLonza announced on July 6, 2017 that it completed the acquisition of Capsugel from KKR for USD 5.5 billion in cash, including refinancing approximately USD 2 billion of Capsugel debt.
Open sourceContinue your research
Related transaction comps
Antares Pharma, Inc. acquired by Halozyme Therapeutics
2022-04-13 · Confirmed
View transaction → HealthcareBIO-CAT Enzymes & Microbials acquired by Lallemand Inc.
2026-07-31 · Confirmed
View transaction → HealthcareAvanos Medical, Inc. acquired by American Industrial Partners
2026-07-27 · Confirmed
View transaction → HealthcareElement Materials Technology’s Life Sciences Testing Services Business in North America acquired by Eurofins
2026-07-20 · Confirmed
View transaction →