European Private Equity Group Acquires UK Pharma Generics Firm

June 6, 2019

European midmarket private equity group, Duke Street, has agreed to acquire Kent Pharmaceuticals and Athlone Laboratories from DCC Vital.

European midmarket private equity group, Duke Street, has agreed to acquire pharmaceutical generics company Kent Pharmaceuticals, based in the United Kingdom, as well as Irish company, Athlone Laboratories, from DCC Vital.

Kent’s portfolio of products, which it sells primarily to hospital and pharmacy wholesaler channels, includes specialist off-patent/generic pharmaceuticals for multiple therapeutic areas, such as analgesics, anti-infectives, and penicillins. Athlone Laboratories manufactures specialist beta-lactum antibiotics.

“We are very pleased to acquire Kent, a market-leading business that we believe represents a significant opportunity for Duke Street and our investors,” said Charlie Troup, managing partner at Duke Street. “Pharma carve-outs is a focus thesis area for Duke Street and our investment in Kent represents a classic Duke Street deal: a complex carve-out transaction, backing a talented management team to implement a focused growth strategy, driven by investment. The transaction and the opportunity are similar to Baywater Healthcare, which we carved out from a USA multinational and exited to trade buyers in 2017.”

The management team of Kent, including Debashis Dasgupta (CEO), will remain in place as a result of the strength of international pharmaceutical experience and the growth proposition that the team developed, which aligns with Duke Street’s vision for the acquired company.

“We are thrilled to be partnering with Duke Street. Charlie Troup and his partners have recognized our ambition for this business,” added Dasgupta. “Together with Kevin James, we have the right blend of experience, ability, and vision to accelerate our growth by expanding our reach and providing high quality generic medicines for meeting patient’s daily needs. After a number of years within the supportive framework of DCC Vital, the business is poised for this exciting next stage of its evolution as a focused and independent entity with Duke Street’s backing.”

Source: Duke Street