Arlington Capital Partners has announced a majority investment in Afton Scientific, a contract, development and manufacturing organization (CDMO) dedicated to sterile manufacturing of injectable pharmaceuticals. According to data captured in the LevinPro HC database, this acquisition marks the third CDMO transaction of the year. There were 21 CDMO transactions announced during 2023, and 39 during 2022.
Based in Charlottesville, Virginia, Afton Scientific specializes in sterile injectable drug manufacturing as well as providing pre-sterilized vials and kits. The company performs aseptic fill-finish for products ranging from pre-clinical through commercial-scale manufacturing across various therapeutic areas.
Arlington Capital Partners is a Washington, DC-based private equity firm that has managed approximately $7 billion in capital commitments. Arlington is focused on middle market investment opportunities in growth industries, including healthcare, government services and technology, aerospace and defense and business services and software.
Tom Thorpe, founder and CEO of Afton, will continue to lead the company and remain a material shareholder going forward.
Goodwin Procter served as legal advisor to Arlington. Bourne Partners served as financial advisor and Greenberg Traurig served as legal counsel to Afton in the transaction. Financial terms of the deal were not disclosed.
