Shopping for a drug company that's adept at making liquid formulas? You're in luck, because privately held Rosemont Pharmaceuticals is on the block. Owned by Close Brothers Private Equity, the drugmaker is valued at an estimated £200 million, or about $324 million.
As Sky News reports, Close Brothers bought Rosemont from Savient Pharmaceuticals ($SVNT) in 2006 for a bit less than £100 million, or about $161 million. It's the largest maker of liquid formulations in the U.K.
Private equity firms have been active buyers and sellers in the industry lately. Just last month, Cinven agreed to pay $732 million for another U.K. drugmaker, Mercury Pharma, which was taken private in 2009 by HgCapital. And a week before that, BC Partners agreed to pay about $620 million for Aenova, a German drugmaker, from fellow investment firm, Bridgepoint. And then there's the biggest private equity deal of late: TPG agreed in July to pay $1.9 billion for Par Pharmaceutical.
Rothschild's investment bankers are handling the sale. Other private equity firms are expected to shop the company, as well as industry buyers.
- read the Sky News piece