Cavendish Leads on the Sale of Off-Patent Branded Pharmaceuticals Provider DB Ashbourne to Top French Pharmaceutial Company Ethypharm

Cavendish Corporate Finance, the UK's leading sell-side mid-market M&A firm, has advised on the sale of DB Ashbourne Limited (DBA), the provider of off-patent branded pharmaceuticals for the UK market founded by serial entrepreneur Dallas Burston, to Ethypharm, the French manufacturer of sustained release drugs backed by private equity firm Astorg Partners.

Established in 2009, DBA identifies, sources, and supplies branded sustained release drugs. The company has established a strong network of relationships with UK Clinical Commissioning Groups and a portfolio of high quality brands. In total, its products have secured an estimated £127m in savings for the NHS over five years.

DBA was founded by Dallas Burston, an entrepreneur with an outstanding track record in the pharmaceutical industry. In 1999, he sold a 49% stake in Ashbourne Pharmaceuticals to HSBC Private Equity for £32m and sold another pharmaceutical company, Bartholomew-Rhodes, to Galen Ltd for £19.8m.

The acquisition of DBA will help Ethypharm achieve its ambitions in the UK. Ethypharm's extensive manufacturing infrastructure, with over 2 billion doses produced each year, make DBA a highly complementary match to unlock access to the UK market.

Cavendish Corporate Finance, which advised DBA on the sale, has a wealth of experience in the healthcare sector. Recent transactions include advising on the sale of Polar Speed to UPS, and the acquisition of Barbican Dental Care by BUPA.

Gordon Hamilton, Partnerand head ofhealthcare at Cavendish Corporate Finance, commented:  

'DBA is a first class operator in the branded prescription drugs market, with an impressive track record in building market share while delivering savings for the NHS.

Following on from the recently announced deal between Resolution Property and Chinese conglomerate Fosun, and the sale of Dexion Partners to Australian Fidante Partners, the acquisition illustrates the continuing appeal of British firms to overseas buyers.'

Dallas Burston, founderand chairmanof DB Ashbourne, commented:  

'I am very pleased to have found such as complementary match in Ethypharm, a highly successful manufacturer of sustained release drugs with an established history of drug development.

The resources of Ethypharm will see DBA continue on its trajectory of growth, and crucially open up our distribution capability to accelerate Ethypharm's penetration of the UK market.'

Contact:

Morgan Rossiter
Richard Morgan Evans / Elizabeth Vincent / Julian Mackenzie-Smith: +44(0)203-195-3240