Investment firm wraps up $2.4B purchase of Cambrex

Investment firm Permira Funds has completed its acquisition of Cambrex Corp., the East Rutherford-based pharmaceutical company announced Wednesday.

The deal, announced in August, saw a Permira affiliate pay about $2.4 billion for the small molecule pharma development and manufacturing company.

“The completion of this transaction kicks off the next exciting phase of growth for our company,” Cambrex CEO and President Steve Klosk said in a prepared statement. “We look forward to working with the Permira team to further enhance our best-in-class capabilities, strengthen our market-leading position, and broaden and deepen our customer relationships.”

Cambrex also named Wayne Hewitt as chairman of its board. Hewitt is chairman of Permira portfolio company DiversiTech, as well as a board member of Wells Fargo and The Home Depot.

Read more from ROI-NJ: