Landsbankinn Corporate Finance acted as adviser on the sale of the entire share capital of Alvogen ehf., a pharmaceutical wholesaler operating in the Icelandic market. Orbital ehf. acquired the company.
Alvogen commenced operations in 2014 following the acquisition of pharmaceutical company Portfarma. Alvogen Iceland ehf., a subsidiary of holding company Aztiq ehf., owns the entire share capital of Alvogen. The companies are independent of the operations of Alvogen Pharma in the US.
Orbital is a newly established company owned by Horn V slhf., a specialised investment fund managed by Landsbréf hf. and Silfurberg ehf.
Since Alvogen’s acquisition of Portfarma, the company has significantly expanded its product offering. Today, the company imports around 100 pharmaceutical products and markets more than 200 healthcare products and medical devices. Its operations include the import, marketing and distribution of generic medicines, over-the-counter medicines and reference medicines, as well as other healthcare products, to Iceland’s main healthcare institutions and pharmacies.
The transaction is subject to customary conditions, including approval by the Icelandic Competition Authority.
Landsbankinn Corporate Finance and BBA//Fjeldco acted as advisers to the seller in connection with the sale process. LOGOS provided legal advice to the buyers.
From the left: Hermann M. Thórisson, Managing Director of Horn V, Friðrik Kristjánsson, owner and Chairman of the Board of Silfurberg, Davíð Ólafsson, Chairman of the Board of Alvogen Iceland, Jens Hilmar Wessman, Director of the Board of Alvogen Iceland.
