On April 1, 2024, Aterian Investment Partners, a private investment firm, has successfully agreed to recapitalize Contract Pharmaceuticals Limited Canada (CPL), a premier North American CDMO specializing in non-sterile liquid and semi-solid dosage forms. CPL, located in Mississauga, Ontario, is renowned for its extensive partnerships with 15 of the top 20 global pharmaceutical companies. The company operates FDA and Health Canada-registered facilities that serve markets in North America, the European Union, Japan, Australia, Mexico, Brazil, and the Middle East.

Christopher H. Thomas, Co-Founder & Partner at Aterian, emphasized CPL's leadership in the North American market and their commitment to enhancing CPL’s management, product development, and manufacturing capabilities. Jan Sahai, CEO of CPL, expressed enthusiasm for the new growth opportunities under Aterian's ownership, citing planned investments in innovation and capacity to meet and exceed customer expectations. Brian Moore, Principal at Aterian, highlighted the strategic investment as part of Aterian’s broader focus on healthcare manufacturing, praising CPL's comprehensive service offerings.

The recapitalization, still pending approval from the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act, was facilitated by legal advisors Kirkland & Ellis LLP and Osler, Hoskin & Harcourt LLP for Aterian, with SSG Capital Advisors, LLC and Goodmans LLP advising CPL. The transaction underscores Aterian’s commitment to expanding its footprint in the healthcare manufacturing sector and CPL’s continued leadership in drug product development and manufacturing.