November 12, 2019

Lindsay Goldberg Acquires Bilcare Research

Lindsay Goldberg is pleased to announce the acquisition of Bilcare Research (“Bilcare” or the “Company”), a subsidiary of Mumbai listed Bilcare Ltd. 

Headquartered in Basel, Switzerland, Bilcare is a leading global packaging company serving primarily the pharmaceutical and food and beverage industries. Within the pharmaceutical packaging segment, an end market with high barriers to entry and attractive growth, Bilcare has the #1 position in Europe and the #2 position globally. The Company has a global presence, with production facilities in Europe, the U.S. and Asia, and a large and diverse customer base, with a proven track record of strong customer retention and low customer concentration. Lindsay Goldberg believes that, in addition to the Company’s organic growth and significant operational improvement opportunities, Bilcare provides an attractive platform to execute on a buy-and-build strategy in the pharmaceutical packaging sector. 

Lindsay Goldberg was introduced to the Bilcare opportunity through our German affiliate partners, who had developed a relationship with the controlling shareholder of Bilcare a year prior to the commencement of the limited process. Lindsay Goldberg believes that Bilcare’s controlling shareholder selected our Firm as the preferred buyer based on our significant prior experience in the European plastic packaging sector as well as the relationship formed by our German affiliate partners prior to the commencement of the process. Lindsay Goldberg affiliate partner Thomas Unger will serve as Chairman of Bilcare. 

About Lindsay Goldberg

Lindsay Goldberg is a private investment firm that focuses on partnering with families, founders and management teams seeking to actively build their businesses. Founded in 2001, Lindsay Goldberg manages more than $13 billion of equity capital and takes a relationship driven approach, centered upon a collaborative investment model and supported by its global network of affiliate partners. For more information about Lindsay Goldberg, please visit