Enaltec Labs Pvt. Ltd sells majority stake to La Renon Healthcare Pvt. Ltd.

We are pleased to announce that our client, Enaltec Labs Pvt. Ltd (“Enaltec"), has sold majority stake to La Renon Healthcare Pvt. Ltd. (“La Renon"). o3 Capital was the exclusive financial advisor to Enaltec for the transaction.

Founded in 2006 by Anand Shah and Susheel Koul, Enaltec Labs is an API manufacturer in therapeutics area of CVS, Antibiotics and other therapeutic API products across US, Europe and ROW market. Enaltec has two API manufacturing plant along with API R&D lab, Analytical lab and Formulation lab. Enaltec is backed by private equity investor India Life Sciences Fund II LLC (“InvAscent”) who held majority stake in Enaltec prior to transaction.

As a part of the transaction, La Renon would take a majority stake in Enaltec for an undisclosed amount based on forward looking performance. The transaction entails raising primary capital for working capital and growth plans of Enaltec.

La Renon is a leading domestic formulation player with key focus across nephrology, neurology and critical care medicines. Promoted by Pankaj Singh, La Renon counts leading private equity investors Sequoia Capital and A91 Partners as shareholders of La Renon. The transaction will help La Renon backward integrate its formulation business and enter the fast-growing complex API products.

Mr. Anand Shah, Promoter of Enaltec Labs said, “Partnership with La Renon is a big boost to Enaltec’s API business, as our presence in domestic market was negligible and now through La Renon we will be able to develop new APIs for launch in India and also we will be able to export this new APIs to various developing markets, which gives us new pipeline of products year on year with aggressive growth strategy”.

Mr. Pankaj Singh, La Renon Chairman, said, “This acquisition will help in meaningfully building and growing our core business and also allow us to backward integrate and develop for the first time in India APIs, and to launch first of its kind formulations with DCGI approval”.

On the transaction, Prasanna Bora, Director, o3 Capital said, “The partnership with La Renon will open new growth path for Enaltec and help realize its full potential by scaling business further and expanding product portfolio thereby allowing backward integration to La Renon”.

The deal reiterates o3 Capital’s strong credentials in the life sciences segment and our ability to consummate deals in this space. This marks o3 Capital's 5th transaction in the life sciences space during last 12 months and 3rd transaction in the month of January 2022, reinforcing our position as an advisor of choice for businesses and investors in the life science segment.

o3 Capital acted as the Exclusive Financial Advisor to Enaltec on the transaction.