PCI Pharma Services Enters Next Phase of Growth With Strategic Investment from Bain Capital, Kohlberg, and Mubadala

• Investment Will Accelerate PCI’s Leading Position in CDMO, Delivering Life-Changing Therapies to Patients
• Transaction Includes Continued Investment from Partners Group

PHILADELPHIA – July 14, 2025 – PCI Pharma Services (“PCI” or the “Company”), a world-leading global contract development and manufacturing organization (CDMO) focused on innovative biotherapies, today announced that it received a strategic investment co-led by Bain Capital and existing lead investor Kohlberg, and supported with significant reinvestment by Mubadala Investment Company (“Mubadala”). Partners Group will also continue to support the Company with a minority investment. Financial terms of the private transaction were not disclosed.
Headquartered in Philadelphia, Pennsylvania, PCI provides clients with integrated end-to-end drug development, manufacturing and packaging capabilities that increase their products’ speed to market and opportunities for commercial success. PCI brings the proven experience that comes with more than 450 successful product launches over the last five years and over 50 years in pharmaceutical services helping bring to life innovation to improve patient access and outcomes.

Kohlberg and Mubadala, both of which initially invested in PCI in 2020, and Bain Capital are partnering with PCI's management team, led by Chief Executive Officer Salim Haffar, to accelerate the Company’s growth trajectory, build upon its strong customer service experience, and further enable PCI clients to bring life-changing biopharmaceutical therapies to market. PCI will primarily focus on organic and inorganic growth initiatives, including expanding its suite of services and geographic reach. Leveraging global growth trends in biologics and specialized drug therapies, PCI’s future investments will include expansion of existing sterile fill-finish of injectables and high potent and specialized manufacturing capacity. The strategic investment will also enable the Company’s significant continued investment in the US, bolstering the nation’s critical pharmaceutical manufacturing and supply chain infrastructure.

Haffar said: “PCI has embarked on a purposeful journey to transform itself into a global CDMO by executing its successful growth strategy, providing industry-leading customer experience, and offering innovative and integrated supply chain solutions. I am grateful for the ongoing support of our existing investors and enthusiastically welcome Bain Capital and their deep, global healthcare and life science capabilities and expertise. Together we will grow PCI’s commercial, clinical trial services, and development and manufacturing businesses to meet the future demands of our biopharmaceutical customers.”

Matt Jennings, Chairman of PCI and an Operating Partner of Kohlberg, commented: “PCI’s world- class management team, combined with the support of experienced industry investors, has proven to be a very successful formula. We are delighted for Bain Capital to join PCI’s investor base, yielding an optimal combination aligned to support Salim and the management team to execute on their growth ambitions and value creation pathways.”

Devin O’Reilly, Partner at Bain Capital, said: “Anchored by an innovative, advanced platform that is consistently growing and setting new standards for the industry, PCI Pharma has built a well- deserved reputation as a differentiated partner to leading biopharma companies, ensuring critical therapies reach patients safely and efficiently. We look forward to working alongside Kohlberg to build on this strong foundation.”

Andrew Kaplan and Christina Dix, Partners at Bain Capital added: “We are excited to leverage our industry expertise and the collaboration of our global healthcare team to support Salim and PCI’s team of experienced industry leaders in the mission to drive innovation in advanced pharmaceutical services that improve patients’ lives and outcomes.”

Chris Anderson, Senior Partner of Kohlberg, added: “We are honored to have supported PCI’s transformation over the last five years into a leading global CDMO, positioned in the fastest growing markets and known for its proven experience meeting critical customer needs throughout the drug development and commercialization lifecycle. We are thrilled to be partnering with Bain Capital and are aligned to make new investments that will further elevate the Company’s capabilities and growth for many years to come.”

Mina Hamoodi, Head of Healthcare at Mubadala, said: “Our reinvestment in PCI reflects our deep conviction in the company’s mission, leadership, and long-term potential. At this important juncture, we are delighted to welcome Bain Capital, an industry-leading healthcare investor with deep expertise in growing pharma services businesses, as a partner. We look forward to partnering with Bain and Kohlberg, and working closely with PCI’s outstanding management team, as the company enters its next chapter of accelerated growth.”

Sujit John, Managing Director, Private Equity Health & Life Vertical, Partners Group, commented: "PCI's market position, reputation, and world-class capabilities strategically position the Company to be the partner of choice for customers. We look forward to supporting PCI and the new ownership group in driving the Company into its next phase of growth.”

Jefferies LLC acted as lead financial advisor to PCI and Moelis & Company LLC acted as co-advisor to PCI. Morgan Stanley & Co. LLC, and BofA Securities, Inc. acted as financial advisors to Bain Capital. Citi acted as a financial advisor to Mubadala.

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as counsel to PCI and Kohlberg. Kirkland & Ellis LLP acted as counsel to Bain Capital. Skadden, Arps, Slate, Meagher & Flom LLP acted as counsel to Mubadala. Ropes & Gray LLP acted as counsel to Partners Group.

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About PCI Pharma Services
PCI is a world-leading CDMO, providing clients with integrated end-to-end drug development, manufacturing and packaging capabilities that increase their products’ speed to market and opportunities for commercial success. PCI brings the proven experience that comes with more than 90 successful product launches each year and over five decades in the healthcare services business. The company currently has 38 sites across seven countries (United States, Canada, United Kingdom, Ireland, Germany, Spain and Australia), and over 7,500 employees working to bring life-changing therapies to patients.

Leading technology and continued investment enable PCI Pharma Services to address global drug development needs throughout the entire product life cycle – from manufacturing capabilities through the clinical trial supply chain and commercialization. Its clients utilize PCI as an extension of their business, and a collaborative partner with the shared goal of improving patients’ lives. For more information, visit pci.com.

About Kohlberg
Founded in 1987, Kohlberg is a leading U.S. middle market private equity firm based in Mount Kisco, New York. The firm invests in high-quality healthcare and services companies characterized by strong market positions, recurring revenue streams and resilient end markets, which it identifies through rigorous thematic research grounded in its White Paper Program. Leveraging its team of investment and operating professionals, Kohlberg works with management teams to accelerate growth, enhance operational excellence and create value. For more information, please visit www.kohlberg.com.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Mubadala's $330 billion (AED 1.2 trillion) portfolio spans six continents with interests in multiple sectors and asset classes. Mubadala leverages its deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates. Headquartered in Abu Dhabi, Mubadala has additional offices in New York, London, Rio de Janeiro, San Francisco and Beijing.
For more information about Mubadala Investment Company, please visit: www.mubadala.com.

About Partners Group
Partners Group is one of the largest firms in the global private markets industry, with around 1,800 professionals and over $150 billion in overall assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and its primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information, please visit www.partnersgroup.com.