Thomas H. Lee and Frazier Healthcare completed the acquisition of Adare from TPG Capital.

Two private equity firms Thomas H. Lee Partners and Frazier Healthcare Partners completed the acquisition of Adare Pharmaceuticals, a specialty contract development and manufacturing organization and global provider of advanced pharmaceutical technologies, from TPG Capital. Financial terms were not disclosed. “Adare has a track record of leveraging its technologies to develop and manufacture value-add products for partners and patients. Oral solid drug delivery is the largest drug class, and this new relationship with THL and Frazier will enable us to invest in and further grow our global capabilities as a specialty CDMO in the pharmaceutical and microbiome technology areas that have driven our growth to date. As we look to the next chapter, we want to thank TPG for their great partnership and support over the past decade of working together," John Fraher, Adare Pharmaceuticals CEO.