Peckforton Pharmaceuticals sold to Abbey Pharma
Specialist pharmaceuticals company Peckforton has been acquired by Abbey Pharma, in a transaction advised by Clearwater International.
The acquisition was supported by a £2m investment from growth capital investor Business Growth Fund (BGF), alongside senior debt funding from RBS. BGF's investment has enabled Abbey Pharma to acquire Peckforton Pharmaceuticals from the RisingStars Growth Fund and Coalfields Enterprise Fund, managed by Enterprise Ventures, and the North West Business Investment Fund, managed by YFM Equity Partners.
Peckforton Pharmaceuticals, based in Crewe, is a fast-growing company that manufactures, distributes and sells prescription and OTC products in the UK and Europe. The business is a UK leader in niche, generic injectable, solid dose and liquid pharmaceuticals and medicines for the hospitals and pharmacy markets.
Based in Maidenhead and established in 2009, Abbey Pharma is a rapidly expanding business that has shown consistent year-on-year revenue growth, delivered by the incumbent management team, led by CEO Kevin James and COO Shafiq Choudhary. The combined business will have revenues of c. £8m.
The acquisition will add new and complementary products to Abbey Pharma, doubling the group's size and establishing a platform to support future expansion plans. Both Enterprise Ventures and YFM Equity Partners are fully exiting Peckforton Pharmaceuticals following a period that saw the company's sales treble.