SK Capital Partners has completed the sale of key assets from its Noramco Group portfolio, marking a major reshaping of the pharmaceutical services business.

 

Affiliates of SK Capital announced the completion of the sale of Noramco, Extractas Biosciences, and Purisys to Siegfried Holding AG, a global Contract Development and Manufacturing Organization serving the pharmaceutical industry.

 

With the deal closed, SK Capital will retain ownership of Halo Pharmaceuticals, a finished-dose-form CDMO operating across the United States and Canada with capabilities in sterile fill-finish and controlled substance manufacturing.

 

Leadership continuity remains in place at Halo. Lee Karras and Alan Majewski, CEO and CFO of the Noramco Group respectively, will stay on to lead the business in their current roles as it transitions into its next phase as an independent CDMO.

 

Lee Karras, CEO of the Noramco Group, commented, “I would like to thank the Noramco Group team for its commitment to excellence and SK Capital for its support throughout its ownership period. I look forward to leading Halo Pharmaceuticals during this new phase as an independent CDMO. 

 

"We are focused on expanding our capabilities to meet evolving customer needs, including the launch of sterile injectable manufacturing at our Whippany, New Jersey facility, which we expect to bring online in the second half of this year.”

 

SK Capital emphasized its continued confidence in Halo’s growth trajectory following the separation of assets.

 

Aaron Davenport, Chairman of Noramco’s Board of Directors and Managing Director at SK Capital, said, “SK Capital is privileged to have supported the Noramco Group and its team. Going forward, Halo Pharmaceuticals will continue to build upon decades of supporting pharmaceutical and healthcare clients and we see significant opportunity to sharpen focus on the business and support its next phase of growth.”

 

The transaction effectively splits the former Noramco Group, with Siegfried expanding its global CDMO footprint while Halo Pharmaceuticals emerges as a standalone platform focused on injectable and controlled substance manufacturing.