U.K. private equity firm Exponent is closing in on acquiring Irish pharmaceutical company Chanelle Pharma in a deal worth more than €300 million, according to
The Times.
Michael Burke, who founded Chanelle Pharma in 1985, mandated Rothschild as the sell-side advisor for the company last year, according to the article.
The company generates a profit of about €25 million and is likely to generate a multiple of 10x to 12x this amount, according to the article.
Companies in the European pharmaceutical sector have on average generated valuations of 10.4x pro forma EBITDA, according to
Fundamentals by Reorg.
Based in County Galway, Chanelle Pharma has human and veterinary pharmaceutical licenses in Europe, Canada, South Africa, Australia, New Zealand and Japan.
In 2018, the company presented an €85 million investment plan, which sought to double its manufacturing capacity with 96 new products.
Chanelle Pharma holds veterinary licenses for about 3,000 animal medicines, and licenses for about 1,800 human drugs.