Stiefel Laboratories Will Enter Into Private Equity Minority Investment Agreement with The Blackstone Group
8/10/2007 11:18:52 AM
CORAL GABLES, Fla.--(BUSINESS WIRE)--Stiefel Laboratories, Inc. announced today that private equity funds of The Blackstone Group have agreed to make a $500 million minority investment in Stiefel Laboratories.
“This is a carefully considered strategy,” company President and CEO Charles W. Stiefel said. “Stiefel Laboratories is on a strong upward trajectory that is sustained by our product development, licensing, and acquisition activities. Taking on a private equity partner increases our ability to accelerate that upward trend.”