UK-based private equity investment manager Foresight Group has sold ONFAB Limited, a UK-based designer and manufacturer of bespoke, single-use flexible containment solutions for pharmaceutical and biopharmaceutical process manufacturing, to Savillex, a US-based manufacturer of specialized material handling solutions used across life sciences, semiconductor, geochemistry, and aerospace. Savillex is a portfolio company of Thompson Street Capital Partners, a US-based private equity firm which invests in middle-market businesses in the Life Sciences & Healthcare, Software & Technology, and Business & Consumer Services and Products sectors.
Founded in 2004 as a family-owned business, ONFAB focuses on designing and fabricating innovative flexible isolator systems. The designs are custom-made to the unique needs of each customer’s pharmaceutical manufacturing process and protect users from highly potent pharmaceutical ingredients. ONFAB’s systems reduce manufacturing costs, minimize cleaning and cleaning validation times, and shorten downtime for equipment changeout. As part of Savillex, ONFAB customers and channel partners will now have access to a full suite of custom rigid container solutions for their most important and time-sensitive projects. The Savillex brand gains an international footprint with increased ability to serve global customers.
Financial terms of the transaction were not disclosed. To date, the ONFAB investment has generated a 3.2x cash-on-cash return for investors in Foresight’s first fund focused on North West England, the Foresight Regional Investment Fund.
EC M&A acted as the exclusive advisor to Foresight Group on this transaction.