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Wragge & Co advises CBPE Capital on the £183 million sale of Rosemont Pharmaceuticals

14.02.13

 

Wragge & Co's corporate specialists have completed a £183 million deal for longstanding client CBPE Capital LLP. A team led by London corporate partner Andy Stylianou advised the mid-market private equity firm on its sale of Rosemont Pharmaceuticals, having previously acted on CBPE's £93 million acquisition of Rosemont in August 2006.

CBPE sold Rosemont, a developer, manufacturer and supplier of liquid medicines, to the $10 billion US-listed pharmaceuticals business Perrigo Company. CBPE has sold the business for 3.25x its initial £52 million equity investment over the investment period.

Andy Stylianou said: "Having advised CBPE on the initial acquisition of Rosemont and worked with them and the company since then as they developed and grew the business, we were delighted to advise all the shareholders on such a successful exit."

The Wragge & Co team comprised corporate director Graham Spalding and associate Victoria Hirst, and tax associate Patrick Allan. They worked closely with CBPE partner Sean Dinnen, CBPE Investment Director Andrew Nelson and the management shareholders.

Sean Dinnen added: "CBPE and the Rosemont management are delighted to have worked with Andy Stylianou and his team at Wragge & Co over the whole lifecycle of the investment, from the original 2006 acquisition to the recent realisation. They delivered invaluable legal expertise and advice as necessary throughout our ownership of Rosemont."

CBPE Capital is a UK-based mid-market private equity firm which invests in management buy-outs or in companies requiring growth or development capital with an enterprise value of up to £150 million.

Wragge & Co has worked with CBPE for more than a decade, advising on its acquisition of and investment in caravan park operator Away Resorts, on its investment in insurance management company Kane Group and on its investment in, and acquisitions by, buy-and-build laboratory testing business Ingemino.

In this latest deal, Rothschild acted as financial adviser to CBPE who was also advised by PwC and L.E.K Consulting. CMS Cameron McKenna advised Perrigo.

Wragge & Co's corporate specialists provide a partner-led service and commercial legal advice to listed companies, private companies and institutional investors. Focused mainly on transactions in the corporate mid-market value range of £20 million to £300 million, its experts operate globally as one team from offices in London, Birmingham and Paris. It specialises in M&A, private equity, IPOs, joint ventures, public takeovers, share schemes, complex corporate restructuring, financial services and tax.

 

For further information about this press release, contact Kathryn Hobbs on +44 (0)121 685 2785 or Liam Thompson on +44 (0)121 685 2943

This press release may contain information of general interest about current legal issues, but does not give legal advice.

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