Rosemont Sector: Healthcare and Pharmaceuticals Date of investment: Aug 2006 Date of exit: Feb 2013 Return: 3.2x invested capital CBPE contact: Sean Dinnen The proof “Rosemont is now a clear market leader and recognised globally as a leading innovator in the field of liquid medicines, a market with highly attractive long term growth fundamentals. CBPE have been an outstanding, knowledgeable partner, fully supporting us as we have grown the business. Now we look forward to the continued development of the business.” John Blythe, CEO of Rosemont Supporting growth Driving expansion for Rosemont The opportunity Rosemont develops, manufactures and supplies oral liquid medicines for patients who have difficulty in swallowing tablets and capsules. Its customers include hospitals, wholesalers and retail pharmacies. Rosemont’s range of medicines improves the lives of patients with swallowing difficulties, typically the elderly and young children. Before we became involved with the business, Rosemont was owned by Savient, a quoted US biotech business. The Rosemont management team had identified a clear opportunity to grow the business in a market experiencing growth driven by an aging population and a greater understanding and recognition of dysphagia (a medical condition which prevents swallowing tablet or capsule pharmaceuticals). At the time of acquisition, liquid oral delivery accounted for less than 1% of UK prescription volumes. The strategy Following our acquisition of Rosemont from Savient, which was seeking to raise capital to focus on its biotech pipeline, we invested to support the ambitions of the management team. Throughout, we maintained a sharp focus on growth opportunities, including streamlining the NPD process and placing greater emphasis on the pipeline. This was particularly relevant to the business’ international ambitions, and we worked with management to implement a European strategy which would be the catalyst for a growing global footprint. We also implemented a £6m capex programme to enhance the company’s world class manufacturing capabilities and increased the strength and depth of the senior team. Following the appointment of a new Chairman (Kevin James, ex-UK MD of Wyeth) at the time of the acquisition, we brought in a Head of Quality and a Clinical Director. The result Our ownership saw the company’s portfolio increase from 58 to 94 products, while EBITDA more than doubled from £9m in 2006 to £19.2m in 2012. Rosemont was sold to Perrigo Company, a $10bn US listed Pharmaceuticals business, for £183m in February 2013, generating a 3.2x return on our invested capital. Previous All case studies Next Get in touch We’re not silent investors, we’d like to talk and find out more about you. If you feel the same, please get in touch. Contact T +44 (0)20 7065 1100 enquiries@cbpecapital.com Location CBPE Capital LLP 2 George Yard London EC3V 9DH Media enquiries Peter Ogden Powerscourt Phone: +44 (0)20 7250 1446 Email: Peter.Ogden@powerscourt-group.com Copyright © 2021 CBPE Capital LLP. All rights reserved. CBPE Capital is committed to conform with the Walker guidelines. CBPE Capital LLP is authorised and regulated by the Financial Conduct Authority. Privacy Policy. Legal. Make an enquiry Name Email Message Send