Montagu Agrees to Sell Medical Device Maker Nemera to Astorg

Montagu Private Equity has agreed to sell French drug-delivery device maker Nemera to buyout firm Astorg.

As part of the deal, Montagu will reinvest in Nemera as an equal partner with Astorg “in the next phase of Nemera’s growth” alongside its management team, the companies said in a statement on Wednesday.

Nemera makes inhalers, nasal spray and eye drop containers and spray bottles for medicines. The sale sale values the French company at about 1 billion euros ($1.2 billion), a person familiar with the matter said. That price represents a return of about five times Montagu’s equity investment in the ...