Bain Capital has announced a strategic investment in PCI Pharma Services, the Philadelphia-based contract development and manufacturing organization (CDMO), joining a consortium of global investors in a move designed to accelerate PCI’s growth trajectory. Existing investor Kohlberg co-led the transaction, which also includes a significant reinvestment by Abu Dhabi’s sovereign wealth manager, Mubadala Investment Company, and continued minority backing from Switzerland-based Partners Group. Kohlberg and Mubadala originally invested in PCI in 2020. 

PCI Pharma Services specializes in providing end-to-end drug development, manufacturing, and packaging solutions for a broad range of biopharmaceutical clients. The new capital will fund both organic and inorganic growth initiatives aimed at expanding PCI’s service offerings and extending its global footprint as demand for CDMO services continues to grow. 

The deal reinforces Bain Capital’s strong track record in the healthcare and life sciences space. The firm recently backed Cerevel Therapeutics, a biotech company focused on neurological disorders that was acquired by AbbVie in August 2024 for $8.7 billion. Earlier this year, Bain Capital also led the carve-out of Mitsubishi Tanabe Pharma from Mitsubishi Chemical Group in a transaction valued at approximately $3.5 billion. 

Jefferies and Moelis acted as financial advisors to PCI, while Morgan Stanley and BofA Securities advised Bain Capital. Citi served as financial advisor to Mubadala Investment Company. On the legal side, Paul, Weiss represented PCI and Kohlberg; Kirkland & Ellis advised Bain Capital; Skadden, Arps advised Mubadala; and Ropes & Gray represented Partners Group.