Swedish global investment organisation EQT AB (STO: EQT) announced on Friday that it has agreed with Icelandic private equity company Aztiq to acquire a majority stake in Adalvo, a global business-to-business dossier developer specialising in generic pharmaceuticals, via its EQT X fund.

Founded by Aztiq in 2018 and headquartered in Malta, Adalvo partners with over 170 generic pharmaceutical firms across 140 countries. The company employs more than 280 people and operates through 15 offices in Europe and India.

EQT will support Adalvo's next growth phase by investing in research and development, operational scale-up, and supply chain expansion, with the aim of accelerating new product launches and enhancing delivery capabilities.

Aztiq, along with other existing shareholders, plans to reinvest and remain a minority shareholder.

The transaction is expected to close in the second half of 2025, pending customary regulatory approvals. Upon completion, EQT X will be approximately 55–60% invested.