OSG names new owners
NORWICH – Christopher R. Calhoun, president of OSG Norwich Pharmaceuticals, today announced that the company has been purchased by AFI Partners, a private equity firm based in New York City.
Upon completion of the sale, the company will be named “Norwich Pharmaceuticals, Inc.” Operations at the North Norwich manufacturer will continue uninterrupted; the current leadership team and employees will remain with the new company.
“We certainly expect continued employment levels. The rest depends on our ability to keep attracting new customers,” Calhoun said.
AFI Partners focuses on investing in manufacturing businesses undergoing change. It targets companies that are in need of capital, leadership, or other critical resources and then partners with management teams and employees across each organization to create value for all stakeholders.
Since its inception in 2001, the Norwich operation has grown substantially, and the workforce has grown with it. Employment at the plant increased 70 percent from approximately 250 people in 2001, to the roughly 425 people which it employs today.
Upon making the announcement, Calhoun stated, “For more than 120 years, Norwich Pharmaceuticals has played a significant role in the Norwich and greater Chenango County economies. We expect to be a continued source of stability and growth in the region.”
“Our focus will remain on providing best-in-class services to our valued customers in the pharmaceutical business. We have demonstrated that we have highly competent people who can provide the quality and service demanded by the industry, with a high level of regulatory expertise, at a value level that our customers expect. With the support of AFI, we will be able to continue to make the necessary investments in the operation to remain at the forefront of our industry.”
E. J. Antonio, managing partner at AFI, stated, “AFI brings considerable manufacturing expertise to Norwich, in addition to a shared vision for long--term growth. We are fully prepared to make the necessary investments that will expand Norwich’s capacity and capabilities. We look forward to working with the Norwich team, as we build a strategy that will maximize the company’s potential.
Upon completion of the sale, the company will be named “Norwich Pharmaceuticals, Inc.” Operations at the North Norwich manufacturer will continue uninterrupted; the current leadership team and employees will remain with the new company.
“We certainly expect continued employment levels. The rest depends on our ability to keep attracting new customers,” Calhoun said.
AFI Partners focuses on investing in manufacturing businesses undergoing change. It targets companies that are in need of capital, leadership, or other critical resources and then partners with management teams and employees across each organization to create value for all stakeholders.
Since its inception in 2001, the Norwich operation has grown substantially, and the workforce has grown with it. Employment at the plant increased 70 percent from approximately 250 people in 2001, to the roughly 425 people which it employs today.
Upon making the announcement, Calhoun stated, “For more than 120 years, Norwich Pharmaceuticals has played a significant role in the Norwich and greater Chenango County economies. We expect to be a continued source of stability and growth in the region.”
“Our focus will remain on providing best-in-class services to our valued customers in the pharmaceutical business. We have demonstrated that we have highly competent people who can provide the quality and service demanded by the industry, with a high level of regulatory expertise, at a value level that our customers expect. With the support of AFI, we will be able to continue to make the necessary investments in the operation to remain at the forefront of our industry.”
E. J. Antonio, managing partner at AFI, stated, “AFI brings considerable manufacturing expertise to Norwich, in addition to a shared vision for long--term growth. We are fully prepared to make the necessary investments that will expand Norwich’s capacity and capabilities. We look forward to working with the Norwich team, as we build a strategy that will maximize the company’s potential.
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