Sale of PCI Pharma Services.

(LSE: PEYS/PEY)

Partners Group Private Equity Limited

Sale of PCI Pharma Services

PGPE Ltd is pleased to inform you that Partners Group, its Investment Manager, has agreed to exit from its initial investment in PCI Pharma Services and reinvests in the next phase of growth

·    As of 31 May 2025, PCI Pharma Services is the second largest investee company in PGPE Ltd portfolio

·    Partners Group, on behalf of PGPE Ltd and its other clients, initially invested in the company in 2016

·    Since the initial investment, PCI Pharma Services has transformed from a regional commercial packaging organization into a global CDMO

·    The transaction values the stake of PGPE Ltd in PCI Pharma Services at approximately EUR 83 million, which is in line with the latest published carrying value

Partners Group, the Investment Manager of PGPE Ltd and one of the largest firms in the global private markets industry, has agreed to exit its longstanding holding in PCI Pharma Services ("PCI" or the "company"), a global contract manufacturing and development organization ("CDMO"). As part of the transaction, in which a consortium led by Bain Capital and Kohlberg & Company will acquire a majority stake in PCI, Partners Group, on behalf of PGPE Ltd and its other clients, has agreed to acquire a minority stake to support the company in its next phase of growth.

The transaction values the stake of PGPE Ltd in PCI at approximately EUR 83 million, which is in line with the last published carrying value as of 31 May 2025. As part of the transaction, PGPE Ltd will reduce its exposure to PCI and will reinvest approximately EUR 18 million to retain participation in the company's future growth. The transaction is expected to close in H2 2025, subject to customary conditions and regulatory approvals.

In 2016, Partners Group, on behalf of its clients, acquired a majority stake in PCI with an investment thesis to establish PCI as a strategic, mission-critical partner to the pharmaceutical and life sciences industry. During this phase of ownership, Partners Group repositioned PCI into higher growth, higher value capabilities, including greater focus on patented molecules, augmenting clinical trial service capabilities, and expanding into development and manufacturing. In 2020, Kohlberg & Company and Mubadala Investment Company acquired a majority stake in PCI while Partners Group retained a minority stake. During this phase of ownership, PCI expanded into advanced drug delivery services, development and manufacturing of biologics, and sterile fill-finish services. Over the past decade, as a result of these value creation initiatives, PCI transformed from a regional commercial packaging organization into a global CDMO, providing a suite of end-to-end integrated solutions that "follow the molecule" throughout the continuum of a therapy's full lifecycle.

Following its minority investment in the new transaction, Partners Group will support the ownership group and management team in executing a value creation plan to further expand PCI's competitive positioning. This includes continued investment in specialized capabilities and expansion that deepens PCI's competitive positioning.

PCI, founded in 2012 and headquartered in Philadelphia, Pennsylvania, is at the forefront of an industry theme that Partners Group has been tracking since 2013, and benefits from several megatrends and secular tailwinds, including the increase in disease prevalence rates across several life-threatening conditions and increasing biopharmaceutical R&D spending that is driving a steady pipeline of new, life-saving drugs to address patients' unmet needs.

Further information is available in the press release issued by Partners Group.

Ends.

About Partners Group Private Equity Limited

PGPE Ltd (formerly Princess Private Equity Holding Limited) is an investment holding company founded in 1999 and domiciled in Guernsey. It invests in private equity direct investments. PGPE Ltd is managed in its investment activities by Partners Group, a global private markets investment management firm with over USD 150 billion in investment programs under management in private markets, of which USD 78 billion is in private equity. Partners Group itself is listed at the Swiss Stock Exchange (ticker: PGHN).  PGPE Ltd aims to provide shareholders with long-term capital growth and an attractive dividend yield. PGPE Ltd is traded on the Main Market of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).

Contacts

Partners Group Private Equity Limited:

pgpe-ltd@partnersgroup.com

www.partnersgroupprivateequitylimited.com

Registered Number: 35241   LEI: 54930038LU8RDPFFVJ57

Notes:

1.     Note that references in this announcement to Partners Group Private Equity Limited have been abbreviated to "PGPE Ltd" or "Company". References to Partners Group AG have been abbreviated to "Partners Group" or "Investment Manager".

2.     This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Partners Group Private Equity Limited. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein is not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.

3.   This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document. Neither the contents of PGPE Ltd' website nor the contents of any website accessible from hyperlinks on PGPE Ltd' website (or any other website) is incorporated into, or forms part of, this announcement.