The Carlyle Group has agreed to sell its stake in Qualicaps, a Irving, TX-based pharmaceutical capsule manufacturer, to Mitsubishi Chemical for ¥55.8 billion ($654.9 million). The transaction is expected to close in March 2013. Qualicaps partners primarily with pharmaceutical companies around the world to provide empty two-piece hard capsules and pharmaceutical processing equipment. Carlyle acquired the company in 2005 with the intent to set up a global infrastructure and marketing strategy and expand its manufacturing capabilities. Under Carlyle, revenue increased by more than 50% and EBITDA by more than 120%.