Inflexion acquires Rosemont for £156m

Katharine Hidalgo
22 June 2020

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Inflexion Private Equity acquires Rosemont Pharmaceuticals for ТЃ156m from trade player Perrigo.

The firm is investing from its Buyout Fund V, which closed on £1.25bn in May 2018. It deploys equity tickets of £10-250m investing in Europe.

Inflexion plans to continue new product development within the business and support geographical expansion.

The divestment comes as Perrigo, the private label over-the-counter pharmaceuticals manufacturer, is planning to focus more on the self-care segment.

Inflexion has worked on a number of carve-outs including Ocorian, THE and Marley.

Perrigo benefits from investment in R&D and innovation and has successfully launched a number of new products, according to a statement.

This sale was accomplished at a 10x adjusted operating income multiple.

Previous funding
CBPE acquired the company for £52m in 2006 from listed biotechnology company Savient Pharmaceuticals.

Perrigo acquired the company in 2013 from CBPE for £180m.

Company
Leeds-based Rosemont has a portfolio of 130 oral liquid medicines across a range of therapeutic areas including 70 licensed products. Founded in 1967, the company employs 200 people. It reported a turnover of £41.8m for the year ending on 31 December 2019. For the preceding year, the company reported £42.7m in revenues.

People
Inflexion Private Equity – Ben Long (partner); Saloshnee Nightingale (investment executive).
Perrigo – Murray Kessler (CEO).

Advisers
Equity – Rothschild (corporate finance); Trowers (legal); Deloitte (debt advisory); Travers Smith (legal).