CBPE scores 22x return on IDIS sale

According to Clinigen, the global ethical unlicensed medicines supply market continues to represent a significant growth opportunity, with an estimated $5bn, yet is currently under-penetrated.

Previous investment
CBPE supported IDIS's £22m management buyout in September 2005, investing £9.4m. At the time of the acquisition, IDIS had reported turnover of £41.4m and EBITDA of £3.6m.

Under CBPE's stewardship the number of employees at the company has increased from 69 to 189, and EBITDA has grown to £15.6m for the year ending in February 2015, with revenue standing at £196.8m.

Company
IDIS provides regulatory and ethically compliant access to unlicensed medicines for healthcare professionals and their patients with unmet medical needs. The company supplies medication in nearly 100 countries to 100,000 patients each year.

IDIS was established in 1987 and is headquartered in Weybridge, Surrey, with its US head office in Princeton.

People
Sean Dinnen, managing partner at CBPE, led the deal with support from Peter Gissel and Naveen Passi. Tony Dutta is managing director of IDIS.

Advisers
Vendors – Rothschild, Julian Hudson, Chris Whittaker (Corporate finance).

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• Topics
• Exits
• UK / Ireland
• Healthcare
• Close Brothers Private Equity (CBPE)
• Unq2015May