Current portfolio


A Top 5 global Pharma CDMO providing a full-service offering to leading Pharmaceutical companies and Biotechs globally

Starting with a single site in Sweden in 1995, Recipharm has transformed through M&A and is today operating 35 facilities in 10 countries.

  • Sector
  • Country
  • Responsible Advisor
    Matthias Wittkowski
  • Fund
    EQT IX
  • Entry
  • Web

Private Capital



About Recipharm
Recipharm provides end-to-end development and manufacturing services to some of the leading Pharmaceutical and Biotech companies and serves as a reliable partner across all key stages of Pharma production. The company actively contributes to the fight against COVID supporting e.g. COVID vaccine production as well as the development of new treatment options.

Recipharm employs more than 9,000 employees in Europe, the US and India. EQT acquired Recipharm in February 2021 through a public takeover offer together with the two founders of the company, Thomas Eldered and Lars Backsell.

Market Trends and Drivers
Recipharm is well positioned in the large and fragmented global CDMO market showing long-term underlying growth supported by several global mega trends such as i) healthcare demand-driven underlying volume growth, ii) growth in development spend as molecules need advanced formulations as well as iii) a continued outsourcing trend, primarily across small/specialty pharma and for high-value drugs.

Investment Potential
Large and fragmented CDMO market with strong, sustainable growth supported by global mega trends.

Recipharm is the European #2 and global Top 5, representing a sizable platform well positioned to drive consolidation as well as expand addressable market organically.

Differentiated capabilities within manufacturing of steriles and inhalation products recognized for high quality and technical capabilities.

Highly reputable brand and customer-oriented mindset with Recipharm seen as a respected partner across a broad range of customer segments.

Tangible value-creation opportunities through both driving efficiencies in the existing platform as well as organically expanding Recipharm’s offer across the value chain by scaling existing offering (Respiratory, Steriles) as well as entering into new segments (e.g. Biologics)

Board of directors

  • Chairperson
    Richard Ridinger
  • Board member
    Matthias Wittkowski
  • Board member
    Henrik Giver
  • Board member
    Mark Keatley
  • Board member
    Steven Klosk
  • Board member
    Christiane Hanke-Harloff


  • CEO
    Marc Funk
  • CFO
    Joaquim Mascaro
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