SK Capital, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, completed its acquisition of Perrigo’s active pharmaceutical ingredients (API) business and renamed it Wavelength Pharmaceuticals.

Wavelength is a developer and manufacturer of generic APIs and finished dose forms (FDF) with primary operations located in Israel and supporting functions in the U.S. and India.

Aaron Davenport, a managing director of SK Capital, said “We are confident that the business’ experienced management team, along with the support of our board, are well-positioned to unlock the tremendous potential of Wavelength. We believe that Wavelength represents a strong platform for further add-on and transformational acquisitions and are already actively pursuing several opportunities. We look forward to growing and improving the business alongside management in the years to come.”

Funds managed by affiliates of Apollo Global Management and MidCap Financial provided debt financing for the transaction. RBC Capital Markets and Rothschild acted as SK Capital’s joint M&A advisors with Rothschild also acting as debt advisor to SK. Kirkland & Ellis and Meitar Liquornik Geva Leshem Tal acted as SK’s legal advisors.