RMBV signs deal to invest in Egypt's ATCO Pharma

RMBV, a private equity firm focused on Egypt and North Africa, has signed definitive agreements to invest in ATCO Pharma for Pharmaceutical Industries through its North Africa Fund III. Completion is subject to customary conditions precedent, including clearance from the Egyptian Competition Authority.

ATCO, founded in 1986, makes human and veterinary medicines and carries more than 150 products, including veterinary brands Tilmicoral and Tylvamyco and human medicines Forflozin and Tussistop. It exports to over 10 countries, among them Saudi Arabia and Nepal, and its R&D team has more than 160 molecules in development.

ATCO CEO Dr Ahmed Abu Al-Naga said the founders are not exiting and existing management will continue to lead the group. Zilla Capital advised ATCO as sole financial adviser.