Deeside pharmaceutical company sold in a £13m deal
A Deeside based pharmaceutical company, NuPharm Group has been sold to Quantum Pharma in a £13m deal.
Quantum Pharma, a County Durham headquartered pharmaceutical manufacturer which supplies the health and care sectors, say they will pay £9.34m in cash upon completion of the deal with up to an additional £4m potentially payable under earn-out agreements.
NuPharm’s manufacturing facility on Deeside Industrial Park makes niche licensed pharmaceutical products, they generated revenue of £3.85m last year. Quantum expects it to be ‘earnings enhancing’ from early 2016 after a period of integration, operational and quality process improvements.
Quantum said the deal will be financed by a new banking facility it has secured with Royal Bank of Scotland, comprising a term loan of £25m and a revolving credit facility of £10m.
“The acquisition of NuPharm represents a further important and exciting milestone for the Group as it significantly accelerates its strategic growth plan, further strengthening the business for the medium and long term” said a spokesperson for Quantum.
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