SK Pharma Group has been sold to Arcus Infrastructure Partners
SK Pharma Group
SK Pharma Group is a pure-play, tech-enabled provider of contract logistics solutions to the pharmaceutical and healthcare industry in Germany. Founded in 2003 and headquartered in Bielefeld, the group operates a network of eight warehousing facilities in Northwest Germany, comprising c. 85,000 square meters and more than 100,000 pallet positions of temperature-controlled storage capacity. SK Pharma Group provides mission-critical logistics infrastructure to a diversified base of pharmaceutical manufacturers, importers, wholesalers and other healthcare customers, combining GDP- and GMP-compliant warehousing and distribution with a broad range of value-added services. The group is deeply embedded in its customers’ supply chains through extensive regulatory, operational and digital integration. Its proprietary warehouse management system connects customer ERP systems, warehouse execution and carrier networks, enabling automated workflows, full traceability and real-time visibility.
The Deal
SK Pharma Group has evolved from a founder-led specialist into a scaled pharma logistics platform through sustained double-digit organic growth, high client retention and continuous capacity expansion. Sales increased from €35 million in 2019 to €74 million in 2025. The acquisition of Med-X-Press in Q2 2026, on which the Lincoln deal team also advised SK Pharma Group and its shareholders, further expanded the platform and created Germany’s largest independent pre-wholesale pharma contract logistics provider.
With the current shareholders’ investment objectives achieved following the company’s strong organic development and the successful Med-X-Press acquisition, Lincoln International was mandated to identify a new majority partner with the resources and strategic capabilities to support the company’s next phase of growth, including further warehouse footprint expansion, internationalization and mergers and acquisitions (M&A).
Lincoln worked closely with SK Pharma Group’s management team and shareholders to prepare and execute a competitive auction process, positioning the company around its strong growth track record, differentiated market position and attractive exposure to the structurally growing outsourced pharmaceutical logistics market. Lincoln’s positioning of the company also highlighted management’s concrete plans for capacity additions, continued operational improvement and further international expansion.
Following a highly competitive process, Arcus Infrastructure Partners was selected as SK Pharma Group’s next partner based on strong cultural alignment, deep understanding of the business model and proven track record in scaling essential logistics businesses organically and via M&A.
Frederik Günther, CEO of SK Pharma Group, commented, “We have a clear vision for SK Pharma Group’s next phase of growth and have found in Arcus a high-quality, long-term partner with the capabilities to help us realize that vision. Arcus has demonstrated a deep understanding of our business and confidence in our growth potential.”
Nicholas Madden, Investment Director at Syz Capital, commented, “We are proud of what the team has achieved at SK Pharma Group. We are delighted to hand over the business to Arcus, a highly respected infrastructure investor that is ideally positioned to support SK Pharma Group’s next phase of growth.”
Our Perspective
Dirk Engelmann, Managing Director at Lincoln who led the deal team, commented, “We are delighted to have supported SK Pharma Group in finding a strong partner for its next chapter of growth. Management has built a highly differentiated platform in German pharma logistics, and we look forward to seeing them build on this foundation and pursue their ambitious growth plans.”
Arcus Infrastructure Partners
Arcus Infrastructure Partners is an independent fund manager focused solely on long-term investments in European infrastructure. Arcus invests on behalf of institutional investors through discretionary funds and currently manages €12.4 billion of assets. Arcus targets middle market, value-add infrastructure investments, with a particular focus on businesses in the digital, transport, logistics & industrials and energy sectors.
Lincoln’s deep healthcare and pharma contract logistics expertise, combined with global buyer reach and strong understanding of SK Pharma Group’s differentiated positioning, was instrumental throughout the process. The team engaged the right potential investors, maintained strong competitive dynamics and provided thoughtful strategic advice as we navigated the key decisions from launch through signing.
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