Kelso Pharma raises £140m fund for acquisitions – Daily Business
Summary
Kelso Pharma, the Scotland-based specialty products business, is expected to use the balance of a \xa3140 million warchest for more acquisitions.The company used some of the funding last month to acquire Alturix, which doubled the size of the business, and it is now looking at other targets in the UK and Europe.As part of its expansion plans it has appointed former Advanz Pharma chief executive Graeme Duncan as a non-executive director.Kelso Pharmas assets consist of Stirling Anglian Pharmaceuticals, based in Glasgow; the Milan business Velit Biopharma; and Alturix which is in Milton Keynes.The funding includes both further equity commitments arranged and managed by existing investor Apposite Capital, the healthcare specialist private equity investor, as well as debt facilities provided by Kartesia. Kelso Pharma was advised in this fundraising by FRP Advisory.Tom Stratford, chief executive, said: We are committed to continuing to grow Kelso Pharma through a blend of company and product acquisitions and this facility significantly enhances our ability to conclude transactions quickly and effectively.Apposite managing partner, Sam Gray, said: Ever since we backed the Kelso team to make their first acquisition we have been tremendously excited by the scale and ambition of Kelso Pharmas growth aspirations and we are happy to have continued to play our part in providing the further funding that the business needs to deliver on that vision.
Funding
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