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Zentiva's Transition: A New Era of Growth

On September 12, 2025, Zentiva, a prominent figure in the European pharmaceutical landscape specializing in generics, took a significant step by announcing the sale of its assets from Advent to GTCR. This move comes after a transformative journey initiated by Advent since the acquisition of Zentiva from Sanofi in 2018.

The Transformational Journey

Under Advent's stewardship, Zentiva has undergone a substantial metamorphosis. The company has seen a groundbreaking evolution in its operations and business strategies. Advent worked closely with Zentiva's management to boost the company's profile, significantly expanding its product portfolio and enhancing manufacturing capabilities. This hands-on approach, coupled with targeted mergers and acquisitions, allowed Zentiva to solidify itself as a robust player in the pharmaceutical sector. Over the years, Zentiva not only optimized its operational efficiency but also exponentially increased its reach, providing essential medications to millions across Europe.

GTCR's Strategic Involvement

GTCR, known for its strategic investments in the healthcare sector, has a rich history of engaging with pharmaceutical businesses to foster growth. With over twenty years of experience, the company has successfully invested in various leading platforms. Their approach focuses on collaborating with management teams to develop market-leading firms through organic growth and innovative mergers. This acquisition positions GTCR as a catalyst for Zentiva's next phase, promising to enhance its capabilities further and streamline access to affordable medications across Europe.

Steffen Saltofte, CEO of Zentiva, expressed his optimism regarding this strategic transition: “Advent has been an exceptional partner in transforming Zentiva. Their commitment to investing in our potential and expanding our product lines has played a crucial role in our growth,” he remarked. Looking to the future with GTCR, he noted that this transition would allow Zentiva to build on its momentum and enhance customer access to high-quality, affordable medicines.

Reaffirming Commitment to Patients

Advent's Managing Director, Tom Allen, highlighted the significant milestones achieved since their acquisition: “When we purchased Zentiva in 2018, we envisioned creating a European leader in affordable pharmaceuticals. Through cooperation with management and strategic investments, Zentiva more than doubled its revenue and EBITDA, laying a solid foundation for the future.” He emphasized the successful transformation of Zentiva, showcasing Advent’s ability to identify potential and nurture them into thriving enterprises.

The Road Ahead

Meanwhile, Sean Cunningham, Managing Director and head of the healthcare division at GTCR, is enthusiastic about partnering with the talented management team at Zentiva. He stated, “We are excited to collaborate with Steffen Saltofte and his capable team as they embark on this next growth phase. Zentiva has a commendable track record of both organic and inorganic growth, a powerful product lineup, and an efficient manufacturing setup. We are keen to support Zentiva in furthering its mission.”

The transaction, which is subject to standard regulatory approvals, is expected to close in early 2026. Financial advisors for the deal included Goldman Sachs and PJT Partners for Advent, while GTCR engaged Barclays Bank PLC and BNP Paribas among others.

About Zentiva

Zentiva is dedicated to enhancing patient health and wellbeing, focusing on the development and delivery of high-quality, affordable medications to meet the needs of over 100 million people in more than 30 countries across Europe and beyond. The company operates four manufacturing sites and has an extensive network of external manufacturing partners, ensuring a consistent supply chain. With over 5,000 dedicated professionals, Zentiva firmly commits to serving patients daily. Visit www.zentiva.com for more information.

About Advent

As a leading global private equity investor, Advent partners with management teams, entrepreneurs, and founders to catalyze business transformations. Managing over $100 billion in assets across 16 offices worldwide, Advent specializes in five key sectors, including healthcare and technology. Since its establishment in 1984, it has executed numerous successful investments, emphasizing hands-on operational support.

About GTCR

Founded in 1980, GTCR employs The Leaders Strategy™ to identify management teams in selected sectors and collaborate with them to acquire and grow market-leading firms. The company focuses on transformational growth and has invested more than $30 billion across various industries. Headquartered in Chicago with offices in New York and West Palm Beach, GTCR is well-established in healthcare and technology sectors.