TA puts $40m in tablet coatings co Ideal Cures

Mumbai: Global private equity major TA Associates will invest $35-40 million in Ideal Cures, a supplier of ready-to-use coating products for tablets to the pharmaceutical and allied industries. The Boston-based investor will own a significant minority interest in the Mumbai-headquartered Ideal Cures, a first-generation entrepreneurial enterprise founded 15 years ago.
Ideal Cures' products are used to provide aesthetic as well as functional coatings for tablets and capsules. Aesthetic sugar or film coatings allow for swallowability and mask taste, while functional coatings serve a number of purposes ranging from moisture, oxygen and light protection of drugs to controlling drug delivery to a specific part of the gastrointestinal tract.
TA Associates believes that the trend is to outsource the production of ready-to-use, fully-formulated coatings, which is being driven most notably by companies seeking innovative solutions that reduce processing time and a company's carbon footprint, such as Ideal Cures provides. "Ideal Cures has a robust business strategy, and over the last few years has emerged as a provider of high quality products and services in the tablet coating space, with a vast and diversified customer base globally," said Dhiraj Poddar, country head (India), TA Associates Advisory.
The company, which competes with global giants such as Ashland and Colorscon, has three manufacturing plants located in Vasai, Jammu and Khambat; and two state-of- the-art R&D facilities in Mumbai and Vasai. Another plant is under construction in Sikkim.
 
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