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Zentiva's New Ownership: Advent to GTCR

On September 12, 2025, Zentiva, a prominent European pharmaceutical company specializing in generic medications, announced a significant transition in ownership. The company is set to shift from the investment firm Advent International to GTCR, a private equity company known for its focus on the healthcare sector.

The Transition of Ownership

The deal comes after Advent acquired Zentiva from Sanofi in 2018. During Advent's stewardship, Zentiva experienced a remarkable transformation, enhancing its operational capabilities and expanding its product portfolio through both organic growth and targeted acquisitions. This strategic restructuring has positioned Zentiva as a strong independent entity, dedicated to operational excellence and research capacities, ultimately benefiting millions of patients across Europe.

Steffen Saltofte, CEO of Zentiva, expressed gratitude towards Advent, noting their partnership's importance in the company’s successful evolution. "Advent has been an exceptional partner on our transformation journey. Their commitment to investing in our capabilities and manufacturing base has been vital for our growth, enabling us to better serve millions of patients in Europe," he stated.

GTCR's Involvement and Future Prospects

GTCR brings a wealth of experience to the table, having made substantial investments in the pharmaceutical industry over the last two decades. The firm has demonstrated a solid track record of partnering with management teams to build market-leading companies through organic growth and strategic initiatives. Sean Cunningham, GTCR’s healthcare leader, voiced enthusiasm about collaborating with Zentiva's management for the next phase of its growth. With their impressive performance in both organic and inorganic expansion, Cunningham believes that GTCR is well equipped to support Zentiva in fulfilling its mission of delivering high-quality medications to patients.

Tom Allen, CEO of Advent, remarked on the achievements made under their ownership, emphasizing that Zentiva has successfully more than doubled its revenues and EBITDA since its acquisition. "Zentiva is a testament to Advent's ability to carve out and transform divisions into thriving market leaders. We take pride in our achievements and are certain that Zentiva will continue to excel under GTCR's ownership," he added.

The Transaction Details

The transition is pending usual regulatory approvals, with an expected completion date set for early 2026. Notably, Advent enlisted Goldman Sachs and PJT Partners as their primary financial advisors, while GTCR’s advisory came from Barclays Bank PLC and BNP Paribas, alongside other contributors.*

About Zentiva

Zentiva is committed to promoting health and wellness among various generations by developing, manufacturing, and delivering affordable and high-quality medications to over 100 million people across more than 30 countries. Through its four wholly-owned manufacturing plants and extensive network of external partners, Zentiva ensures reliable supply chains. With a diverse workforce of over 5000 talented individuals, the company pledges to meet the daily needs of patients who rely on their medications. You can learn more at www.zentiva.com.

About Advent and GTCR

Advent is a leading global private equity investor focused on collaborating with management teams to transform businesses, boasting managed assets exceeding $100 billion. Founded in 1984, Advent specializes in various sectors, including healthcare, consumer, financial services, and technology. In contrast, GTCR, established in 1980, pursues transformative growth strategies in healthcare and other key industries. They have invested over $30 billion across more than 290 companies, managing approximately $50 billion in capital.

For more information, visit www.adventinternational.com and www.gtcr.com.