Alliance Pharma has completed its acquisition of Cambridge Laboratories for between £14.3 and £16.4 million.
The company now owns the trade assets of Cambridge Laboratories, and has supplemented its portfolio with 18 prescription products across several therapeutic areas, including a range of oncology products.
The transaction was partly financed by a £4 million loan facility secured by Alliance from Lloyds Banking Group.
Richard Wright, Finance Director, Alliance Pharma, said: “This acquisition represents a major step in the development of Alliance and we look forward to working with the Bank again in the near future.”
Over the last decade, the Bank has supported Alliance’s numerous acquisitions, an Integrated Finance transaction, an AIM listing and two refinancings/restructurings. In August 2009 the Bank supported the acquisition of two brands, Timodine and Buccastem, from Reckitt Benckiser.
Peter Jackson, Relationship Director, Thames Valley and South region, Corporate Markets, Lloyds Banking Group, said: “The management at Alliance Pharma has a clear strategy in place to acquire low-risk and established products and has a proven track record of identifying and integrating a number of pharmaceutical product licence acquisitions. Over the last decade we have supported the company during a period of continual growth, ensuring it received the guidance, advice and finance to support its strategy.”