GTCR Seeks Funding for Zentiva Acquisition Bid with KKR, Advent

GTCR is in talks with lenders, including KKR, to secure financing for a potential bid to acquire generic drugmaker Zentiva, which could value the company at around €5 billion. Advent International owns Zentiva, which was acquired from Sanofi in 2018. GTCR, TPG, and Aurobindo Pharma were also reportedly considering bids.

Private equity firm GTCR is in advanced discussions with direct lenders, including KKR & Co., to secure financing for a potential acquisition of generic drugmaker Zentiva. The deal, which could value the company at around €5 billion, is part of a resurgence in merger and acquisition activity in the United States [1].

Advent International, the current owner of Zentiva, bought the company from Sanofi in 2018 for €1.9 billion. GTCR, TPG Inc., and Indian drugmaker Aurobindo Pharma Ltd. were among those considering bids for Zentiva [1]. The talks are ongoing, and there is no guarantee a deal will materialize, according to sources with knowledge of the matter.

Zentiva, which has developed and produced 500 products in 900 drug forms, services more than 30 countries. The company's diverse product portfolio includes treatments for blood diseases and painkillers. The potential acquisition would be a significant move in the pharmaceutical industry, given the company's extensive reach and product offerings.

After a slow start to the year, merger and acquisition activity in the US has been picking up after a burst of transaction announcements over the summer. About $2.7 trillion of deals have been announced since the start of the year, more than 25% higher than 2024 levels [1].

The move by GTCR is part of a broader trend in the private equity sector, where firms are increasingly turning to private debt to fund acquisitions. This strategy allows firms to avoid the dilutive effects of issuing new shares and provides greater flexibility in structuring deals.

While the potential acquisition of Zentiva by GTCR is still in the early stages, it highlights the ongoing activity and interest in the pharmaceutical sector. The deal, if successful, would be a significant addition to GTCR's portfolio and could have implications for the broader pharmaceutical industry.

References:
[1] https://www.bloomberg.com/news/articles/2025-08-27/gtcr-in-talks-for-private-debt-to-fund-bid-for-drugmaker-zentiva