SK Capital Partners is closing in on a deal to acquire Swiss drug distribution group Swixx Biopharma, according to Bloomberg. The transaction could value the business at about $1.8bn. 

The US private equity firm has secured financing from alternative asset manager Ares, sources said. An announcement could follow shortly, although talks may still be delayed or fall apart.

SK Capital is said to have emerged as the preferred bidder after outpacing other private equity and strategic suitors. DKSH Holding and Lone Star had previously expressed interest in the asset.

Swixx is owned by HBM Healthcare Investments and its managers. The company operates in 45 countries, helping pharmaceutical groups distribute products in smaller markets with complex regulatory requirements. It reported more than $980m in sales in 2024. 

Representatives for SK Capital, Swixx, and HBM did not comment, while Ares declined to comment.

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