Quadria Capital and Gulf Islamic Investments to acquire a minority stake in Encube Ethicals from Multiples Alternate for $119m.

Quadria Capital, a private healthcare investor, and Gulf Islamic Investments, a financial services company, agreed to acquire a minority stake in Encube Ethicals, a global player in manufacturing of topical drugs, from Multiples Alternate, a private equity firm, for $119m. “It was an exceptional partnership and transformational journey for our company. I am now pleased to have Asia’s largest private healthcare investor, Quadria Capital on-board with us for Encube’s Growth 2.0 journey. We aspire to grow organically and inorganically, and will be making long-term investments across the value chain. I am certain that matching our capabilities to our Topical focussed strategy will best position Encube to continue to create and deliver value," Mehul Shah, Encube Founder and Managing Director.