Ampersand Acquires Purna to Expand Global Pharma Services

Private equity firm Ampersand Capital Partners has announced the acquisition of contract development and manufacturing provider Purna Pharmaceuticals, signaling a strategic move to strengthen its presence in pharmaceutical services and formulation development across international markets.

Purna, known for its work in liquid and semi-solid dosage forms, supports a wide range of pharmaceutical industry clients. The deal positions the company for further expansion in innovation, manufacturing capacity, and customer support, according to company leadership.

“This acquisition marks an important next chapter for Purna and reflects Ampersand’s confidence in our leadership team, differentiated capabilities, and customer relationships,” said Bart Peeters. He added that the new ownership structure would allow the organization to accelerate investment in quality systems and broaden its global reach.

From Ampersand’s perspective, the transaction fits into a broader strategy of building integrated life sciences service platforms. Hidde van Kerckoven noted that the firm intends to provide both capital and operational expertise while maintaining the company’s culture and long-standing client relationships.

A key element of the acquisition involves collaboration with MedPharm, another Ampersand portfolio company specializing in topical and transdermal drug development. The firms aim to form a trans-Atlantic service network capable of supporting formulation, development, and manufacturing under a single coordinated offering.

“Ampersand has a strong track record of fostering collaboration across its portfolio where it benefits clients,” said Bill Humphries. He emphasized that the complementary expertise of both companies could improve efficiency and accelerate product development timelines for pharmaceutical partners.

Purna’s previous investment partner, Creafund, also endorsed the transition. Ruth De Wulf said the company had significantly upgraded its capabilities during the past decade and was now positioned for a new phase of growth under Ampersand’s ownership.

Financial advisory support for the transaction was provided by Achelous Partners, LLC.

Industry analysts view the acquisition as part of a broader trend in pharmaceutical outsourcing, where investors are building integrated development and manufacturing networks rather than standalone service providers. By linking formulation expertise with manufacturing scale and regulatory support, combined platforms are increasingly attractive to drug developers seeking streamlined development pathways.

With additional capital, operational backing, and cross-company collaboration, the combined capabilities of Ampersand’s portfolio companies are expected to target complex drug delivery formats — particularly topical and transdermal therapies — where specialized expertise and regulatory knowledge remain in high demand globally.