SK Capital Closes Acquisition of Perrigo’s API Business and Changes Name to Wavelength Pharmaceuticals

NEW YORK & TEL AVIV, Israel–(BUSINESS WIRE)–SK Capital, a private investment firm focused on the specialty
materials, chemicals and pharmaceuticals sectors, completed its
previously announced acquisition of Perrigo Company plc’s (NYSE; TASE:
PRGO) active pharmaceutical ingredients (“API”) business. The API
business has been renamed from Perrigo API to Wavelength Pharmaceuticals
(“Wavelength” or the “Business”).

Wavelength is a leading developer and manufacturer of generic APIs and
finished dose forms (“FDF”) with primary operations located in Israel
and supporting functions in the U.S. and India. The Business supports a
global, blue-chip customer base with a broad array of products that
leverage its specialized manufacturing capabilities (including
cytotoxic, steroid and high potency) and core competency in complex
chemistries. The new name, Wavelength Pharmaceuticals, is intended to
convey the standalone organization’s prioritization of customer
alignment and solutions-based partnership. This renewed focus builds
upon Wavelength’s uncompromising commitment to the highest quality and
reliability standards, exemplary compliance track record and
differentiated capabilities to drive the Business’s next stage of growth
and profitability. To implement this strategic realignment, the
Business’s leadership team will be actively supported by Wavelength’s
highly-experienced, pharmaceutical industry veteran board members –
Itzhak Krinsky, Meron Mann, Iftach Seri and Arik Yaari.

Iftach Seri, commenting on the future direction of the Business, said
“We are excited to drive progress and growth through further investments
in people, culture, processes and technology. The leadership team has
already begun executing its plans to transform Wavelength into an
industry leader, building upon the strong foundations of the legacy
business.”

Aaron Davenport, a Managing Director of SK Capital, added, “We are
confident that the Business’s experienced management team, along with
the support of our Board, are well-positioned to unlock the tremendous
potential of Wavelength. We believe that Wavelength represents a strong
platform for further add-on and transformational acquisitions and are
already actively pursuing several opportunities. We look forward to
growing and improving the Business alongside management in the years to
come.”

Funds managed by affiliates of Apollo Global Management, LLC, together
with MidCap Financial, provided debt financing for the transaction. RBC
Capital Markets LLC and Rothschild acted as SK Capital’s joint M&A
advisors with Rothschild also acting as debt advisor to SK. Kirkland &
Ellis LLP and Meitar Liquornik Geva Leshem Tal acted as SK’s legal
advisors.

About SK Capital

SK Capital is a private investment firm with a disciplined focus on the
specialty materials, chemicals and pharmaceuticals sectors. The firm’s
purpose is to build strong and growing businesses that create
substantial long-term economic value. SK utilizes its industry,
operating and investment experience to identify opportunities to
transform businesses into higher performing organizations with improved
strategic positioning, growth and profitability as well as lower
operating risk. SK’s portfolio of businesses generates revenues of
approximately $6 billion annually, employs more than 8,700 people
globally and operates more than 60 plants in 25 countries. The firm
currently has approximately $1.9 billion of assets under management. For
more information, please visit www.skcapitalpartners.com

About Wavelength Pharmaceuticals

Wavelength is a leading developer and manufacturer of generic APIs and
finished dose forms (“FDF”) with operations primarily located in Israel.
Wavelength supports a global, blue-chip customer base and has a broad
array of products that leverage its specialized manufacturing
capabilities (including cytotoxic, steroid and high potency) and core
competency in complex chemistries. Wavelength has an uncompromising
commitment to the highest quality and reliability standards and has an
exemplary compliance track record.

Contacts

BackBay Communications
Philip Nunes, 617-391-0792
phil.nunes@backbaycommunications.com