Bethesda private investment firm Arlington Capital Partners LLC has made a "majority investment" in Charlottesville's Afton Scientific, a contract, development and manufacturing company for injectable pharmaceuticals.
Terms of the investment were not disclosed. Tom Thorpe, founder and CEO of Afton, will continue to lead the company and remains “a material shareholder,” Arlington Capital said in its announcement.
Afton specializes in making small-scale sterile injectables for everything from preclinical trials to commercial-use drugs. It also produces presterilized vials and kits. It’s been in business for more than 30 years and is based in a 35,000-square-foot lab and warehouse facility on Avon Court in Charlottesville. It serves clients in 18 countries across North America, Europe, Asia and Australia.
Henry Albers, an ACP principal, said in a statement that his firm would partner with Afton to facilitate its “expansion in the emerging biotech hub of Charlottesville.” Arlington Capital said it was drawn to Afton by the strong demand for biologics and the company’s track record.
“Partnering with Arlington is a pivotal step in Afton’s growth trajectory,” Thorpe said in a statement. “Their long history investing in pharmaceutical services and expertise in regulated industries makes Arlington the right partner to support our capacity growth and service offering expansion. The strong tailwinds in our core markets as well as the increased focus on reshoring critical pharmaceutical manufacturing make it an ideal time for us to enter the next stage in Afton’s progression.”
Arlington Capital recently closed a $3.8 billion fund — its largest ever — and the formation of new platforms for aerospace and ship manufacturing by combining several portfolio companies. Its longtime focus is investing in companies that provide leading technologies in the aerospace, defense, government services and health care sectors that serve the Department of Defense, intelligence community, other public sector industries as well as commercial air and health care companies. Founded in 1999, Arlington Capital has raised roughly $8 billion to date.
