Affirma and StonePine in Egypt deal

Affirma Capital and StonePine ACE Partners have announced the closing of their $20 million investment to acquire a significant minority stake in Nerhadou International for Pharmaceuticals and Nutraceuticals, a nutraceutical and pharmaceutical player and oral dispersible film (ODF) manufacturer in Egypt.

Nerhadou has had strong growth over the past year, with an attractive product pipeline of innovative nutraceutical and pharmaceutical products in both ODF and conventional forms.

The new capital will strengthen the company’s balance sheet and allow for acceleration of key growth initiatives.

This is the first joint investment by Affirma Capital and StonePine Capital Partners in Egypt and part of a broader strategy for the region. The companies are committed to backing regional champions and actively seeking investment opportunities in Egypt and the MENA region, having already opened an office in Cairo and hired a local investment team.

Affirma Capital and StonePine were supported by White & Case as legal advisors. ADIB Capital (the investment banking arm of ADIB Egypt) acted as the lead sell side advisor on behalf of Nerhadou, supported by Al Tamimi & Company as legal advisors.