Renaissance Acquisition Holdings, a portfolio company of RoundTable Healthcare Partners, announced today that it has acquired DPT Laboratories.
DPT, the industry leader for semi-solids and liquids, is based in San Antonio, TX, where it has research and development, as well as manufacturing facilities. It also is expanding its presence in the sterile and specialty products markets, with facilities in Lakewood, NJ, that specialize in the development and aseptic manufacturing of clinical trial material and commercial scale products to meet sterile requirements.
DPT headquarters and staff will continue to be located in San Antonio and its management team will remain in place, the companies announced. As a result of the transaction, DFB Pharmaceuticals, based in San Antonio and Fort Worth, TX, will maintain a meaningful interest in the combined business and will provide oversight and counsel through representation on the Renaissance Board of Directors.
"As we review investment opportunities, we look for outstanding companies that deliver a value-added proposition, with strong management teams and excellent reputations in the markets in which they compete," said Pierre Fréchette, president and CEO of Renaissance Acquisition Holdings.
"As a market leader in the contract development and manufacturing space, DPT’s experienced management team has established a world-class reputation in semi-solids and liquids, as well as a sterile business with an outstanding regulatory track record that is poised for significant growth. Partnering with DPT to invest in its continued growth and success is a perfect fit with our strategy of building companies for the long-term.
"Renaissance and its management team bring a depth of industry experience, including a specific understanding of the contract manufacturing and development space, along with a successful history of partnering with companies like ours to help them grow," said Paul Johnson, group president and COO of DPT.
"This partnership provides the resources we need to accelerate our long-term strategic plans, which include maximizing our semi-solid and liquid business in San Antonio, and achieving aggressive growth in our sterile and specialty products business in Lakewood."