CapVest Partners, a London-based private equity firm, has agreed to acquire a majority stake in German pharmaceutical company Stada Arzneimittel, effectively halting the drugmaker’s previously explored initial public offering (IPO). The deal, slated for completion in early 2026, values Stada at approximately 10 billion euros, making it one of the largest healthcare takeover deals in Europe this year.

Stada, which specializes in generic prescription drugs, consumer health products, and specialty pharmaceuticals, will see its current owners—Bain Capital and Cinven—retain minority stakes. Under their ownership since 2017, Stada grew from a regional generics supplier into a diversified global healthcare platform, achieving over 4 billion euros in revenues and more than doubling its EBITDA.

CapVest brings over two decades of healthcare investment experience and is regarded as well-suited to drive Stada’s next growth phase. The acquisition provides liquidity for existing owners while enabling the company to leverage CapVest’s operational expertise and sector network.

With the IPO route set aside, Stada’s leadership can now focus on strengthening its market position through operational improvements and strategic growth initiatives in consumer health, generics, and specialty pharma.