Drug-Maker Formulates £200m Sale
One of Britain's fastest-growing private companies is being put up for sale, potentially netting its management team a multimillion-pound windfall.
Rosemont Pharmaceuticals, which manufactures liquid medicines, is expected to be sought after by private equity firms as well as bigger drugs companies.
Rosemont, which is based in Leeds, was bought by Close Brothers Private Equity in 2006 for just under £100m, and is now estimated to be valued in the region of £200m.
Previously owned by Nasdaq-listed Savient Pharmaceuticals, Rosemont is the largest UK player in the rapidly-growing market of liquid medicines that are normally delivered through tablets. Rosemont's products are generally consumed by young children and older people who have difficulties swallowing.
The decision to put Rosemont up for sale continues a busy period for corporate activity in the pharmaceuticals sector. Earlier this month, Clinigen, a drug-testing company, announced that it had raised £50m through a flotation arranged by Numis Securities.
Investment bankers at Rothschild have been appointed to handle the Rosemont auction.
Close Brothers Private Equity declined to comment.