SAN DIEGO–(BUSINESS WIRE)– New Mill Capital announced that in partnership with Heritage Global Partners, Keith Machinery, and Federal Equipment Company, it has acquired two pharmaceutical plants in Missouri, formerly of Nesher Pharmaceuticals.
The first plant in Bridgeton, MO is a 124,000 SF, state-of-the-art pharmaceutical facility well-equipped with manufacturing and packaging suites, (2) laboratories, large warehouse space with Class 2 Vaults, and administrative offices. It is in the prime area of Earth City’s Industrial Park near the St. Louis airport and all major highways. Since 2012, the facility has passed multiple GMP/PAI compliance audits by FDA. It has the potential for superior long-term profitability combined with the benefit of short-term immediate availability and quick start up. This facility is being marketed as a turnkey opportunity.
The second plant in St. Louis, MO is a 99,000 SF, solid dose facility with manufacturing and packaging suites, warehouse space with a Class 2 Vault, and administrative offices. This 4.23-acre property is conveniently located 10 minutes from St. Louis Lambert International Airport and downtown St. Louis. The equipment assets from this location are slated for auction. Bidding in the timed, online auction will begin on April 26 and starts closing on April 27 at 9am CT.
“We are thrilled to have partnered on acquiring these spectacular sites which were operated through Q4/2021 and have consistently been maintained by dedicated skilled professionals,” said Tom Murray, a Principal at New Mill Capital.
“Both plants were designed to manufacture and package tablets, capsules, and powder for oral solution. This is a great opportunity to expand in the pharmaceutical space or if you have the need to create a corporate presence in Missouri,” said Adam Covitt, President of Federal Equipment Company.
Kevin Jampolis of Keith Machinery added, “We have had a great working relationship with Nesher over the years and are pleased to have worked with them to acquire these sites.”
“We anticipate significant interest in the real property and equipment assets at both sites and are confident the next chapter of these sites will be a successful one,” concluded Nick Dove, President of HGP.
About New Mill Capital
New Mill Capital is a privately-held asset acquisition and disposition firm specializing in processing plant turnkey sales and disposition programs. New Mill is a national leader in the purchase and sale of idle manufacturing plants, equipment packages and has also repurposed over 20,000,000 square feet of manufacturing facilities.