NZ Pharmaceuticals gets $49.6 mln cash injection as Archer Capital takes over

Mon, 11 Apr 2016

By Paul McBeth April 11 (BusinessDesk) - New Zealand Pharmaceuticals, which manufactures specialty chemicals, has got a $49.6 million injection from its new controlling shareholder, Australian private equity firm Archer Capital. Last week local private equity firm Direct Capital completed the sale of its 51 percent stake in Palmerston North-based NZP for an undisclosed sum to Archer, saying it had been "very successful" for its investors. While the price wasn't disclosed, Australian newspapers had previously reported it as being in the...

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