Current portfolio


A globally leading contract developer and manufacturer focused on inhalation drug delivery products, operating as a partner to global pharma companies.

Established as a standalone company in 2024 following the carve-out of Recipharm’s former Advanced Delivery Systems business, Bespak operates three sites across the UK and the US.

Bespak lab
  • Sector
  • Country
    United Kingdom
  • Responsible Advisor
    Matthias Wittkowski
  • Fund
    EQT IX
  • Entry
  • Web

About Bespak

Bespak is a global pharmaceutical contract development and manufacturing organization (CDMO) specializing in innovative inhaled and nasal drug delivery systems, including metered dose and dry powder inhalers, as well as nasal sprays.

The company leverages cutting-edge technology to enhance drug delivery efficiency and serves blue-chip pharma companies across Europe and the United States. In addition, Bespak is also viewed as a sustainability leader in the transition to greener inhaler solutions.

Market Trends and Drivers

Bespak operates in the attractive drug delivery product market, with strong growth outlook driven by increasing incidence, product innovation and growing outsourcing share to CDMOs.

The company holds a leading market position in pressurized metered dose inhaler valves and is well placed to drive and capitalize on the upcoming green propellant opportunity, which is being accelerated by regulatory pressures to phase out current CO2-heavy propellants.

Investment Potential

The carve out of Bespak as a standalone company is expected to unlock its full potential by driving product development and customer acquisition in its core business of pressurized metered dose inhaler valves and dry powder inhalers, as well as by winning new manufacturing contracts. Bespak’s ambition is to consolidate its footprint as E2E player with strong market position and technology at the forefront of the green propellant shift. Additionally, growth acceleration is expected to come from increased focus on high-growth niches in nasal spray devices and soft mist inhalers where Bespak has proprietary IP and is early to market.

Board of directors

  • Chairperson
    Kåre Schultz
  • Board member
    Matthias Wittkowski
  • Board member
    Ulrich Faessler
  • Board member
    Greg Behar
  • Board member
    Anne Whitaker
  • Board member
    Chris Hirst
  • Board member
    Oren Klug


  • CEO
    Chris Hirst
EQT logo