The London office of Fasken Martineau, an international business law and litigation firm, announced today that it advised the Waymade Group and Dr Vijay Patel and Mr Bhikhu Patel on their £367 million disposal of the Amdipharm Group of companies to European private equity firm, Cinven.
Amdipharm will operate initially as a standalone business, but will be merged over time with one of Cinven’s existing portfolio companies, Mercury Pharma, which Cinven acquired in September 2012. The combination supports Cinven’s strategy of consolidating its niche pharmaceuticals holdings.
With sales in over 80 countries worldwide, and growth created through eighteen significant acquisitions, led and directed by Co-Chairmen, Dr Vijay Patel and Mr Bhikhu Patel, Amdipharm has built up a portfolio of more than 50 products. Its aim has been to make essential prescription medicines, which may no longer be a priority for research based pharmaceutical companies, available to patients.
Fasken Martineau advised the Waymade Group, and the Group’s founders Vijay and Bhikhu Patel, on this transaction with a team led by Catherine Moss (partner), comprising Peter Rhodes (partner) and associates Liana Uzoziri and Claire Read, corporate, Stuart Richards (partner) and Antonina Nijran (associate), commercial and Life Sciences, Andrew Thomas (partner) and Fiona Coady (associate), banking and finance, Elena Cooper (partner), employment, Jonathan Witt (associate), commercial property, and Paul Yerbury (partner) and Rakesh Jhally (associate) tax in London.
Cinven was advised by Clifford Chance, led by Partners Jonny Myers and Brendan Moylan with a team including assistants Chris Sullivan and Stuart Padgham.
Dr Vijay Patel, Co-Chairman of Amdipharm, commented: “Bhikhu and I have enjoyed enormously building the Amdipharm business and growing it into the international player it is today. We firmly believe that now is the perfect time to take the business to the next level, making the business more scalable, through a combination with Mercury. We have been impressed by the Cinven team’s sector expertise and their vision to grow the overall business. As such we are delighted to partner with them going forward.”
“We are delighted to advise Dr Vijay and Mr Bhikhu Patel and the Waymade Group on this substantial transaction. This transaction is a realization of the entrepreneurial efforts of Dr Vijay Patel over a number of years and we have enjoyed helping him, and his family, achieve such a success.” said Fasken Martineau Partner, Catherine Moss. “We were pleased to play a lead advisor role in this transaction and believe that it continues to demonstrate our strength in the Life Sciences M&A arena.”
Catherine Moss has advised the Waymade and Amdipharm businesses, and their founders, Dr Vijay Patel and Mr Bhikhu Patel, since 2004.
