NORWICH – Christopher R. Calhoun, president of OSG Norwich Pharmaceuticals, today announced that the company has been purchased by AFI Partners, a private equity firm based in New York City.
Upon completion of the sale, the company will be named “Norwich Pharmaceuticals, Inc.” Operations at the North Norwich manufacturer will continue uninterrupted; the current leadership team and employees will remain with the new company.
“We certainly expect continued employment levels. The rest depends on our ability to keep attracting new customers,” Calhoun said.
AFI Partners focuses on investing in manufacturing businesses undergoing change. It targets companies that are in need of capital, leadership, or other critical resources and then partners with management teams and employees across each organization to create value for all stakeholders.
Since its inception in 2001, the Norwich operation has grown substantially, and the workforce has grown with it. Employment at the plant increased 70 percent from approximately 250 people in 2001, to the roughly 425 people which it employs today.
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