Focus Pharmaceuticals

Licensing and marketing of generic pharmaceuticals

www.focuspharmaceuticals.co.uk

Mobeus has realised its investment in Focus Pharmaceuticals in a sale to Cinven-backed AMCo.

Focus, based in the Midlands, is a leading supplier of niche generic pharmaceuticals in the UK.

ORIGINAL DEAL

Mobeus invested £3.2m to support the MBO of Focus from the founder shareholder. The funding was provided as a combined debt and equity package.

IMPACT

At the time of the original MBO, revenues were c. £12m and the business was modestly profitable. Through the
investment period, Focus demonstrated strong growth. Turnover grew three-fold to c. £40m and profits are
now in excess of £6m.

SALE

In September 2014, Focus was sold to Cinven-backed Amdipharm Mercury Group for upfront consideration of £50m with deferred consideration and an earn-out of up to £20m.

RETURNS

The investment returned c. £12m in cash to the Mobeus VCTs with a further £2.6m in deferred consideration and earn-out yet to be realised. The cash return to date is a 3.7x money multiple, a 25% IRR over a seven year period.

Information

Ashley Broomberg
Sector:
Healthcare
Type:
Management Buyout
Status:
Realised
Leader:
Ashley Broomberg