TPG picks up 35% stake in Schott Poonawalla via SII

CHENNAI: Schott Pharma announced on Tuesday TPG has entered into a binding agreement to acquire a 35 per cent stake in its joint venture Schott Poonawalla from Serum Institute of India (SII).

Schott Poonawalla is a joint venture of Schott Pharma and SII, part of the Cyrus Poonawalla Group and a global leader in vaccine manufacturing, dedicated to providing affordable vaccines worldwide. TPG Growth, TPG’s middle market and growth equity platform, is funding the investment, along with Novo Holdings as a co-investor. Following the transaction, SII will retain a minority stake in the company.

“We aim to build upon Schott Poonawalla’s market leadership position as India’s largest injectables-focused drug containment solutions company,” said Bhushan Bopardikar, Business Unit Partner at TPG Growth.

“Partnering with TPG marks an important step for us,” said Adar Poonawalla, CEO of Serum Institute of India. “Their experience in healthcare investing and global network make them a strong partner as we scale and explore new opportunities. Our collaboration with Schott Pharma will continue, ensuring supply chain resilience and advancing innovation in vaccine packaging and delivery.”

“India continues to be one of the most dynamic and strategically important manufacturing hubs for Schott Pharma. As we continue to expand our local production capacities and leading role in the Indian market, we are confident this step will further enhance our global footprint and deliver exceptional value to our customers,” said Andreas Reisse, CEO, Schott Pharma.

The transaction is expected to close within the first half of 2025.

Jefferies acted as the financial advisor to TPG. AZB & Partners acted as the legal advisors to TPG and Schott Pharma. J Sagar Associates acted as the legal advisors to Serum Institute.