Sale of Northamptonshire pharma company DB Ashbourne to French multinational
"Dr Burston has been a long-standing and loyal client of EMW and we are therefore thrilled to have been able to assist him throughout the lifespan of his business, from its launch to a successful exit. This deal demonstrates EMW’s expertise at advising a business through each stage of its lifecycle, from start-up to exit.”
We advised serial pharmaceutical entrepreneur Dr Dallas Burston on the sale of Northamptonshire pharmaceutical group DB Ashbourne (DBA), to Ethypharm, the French pharmaceutical multinational.
Founded in 2009, DBA has a turnover of over £30m and markets and supplies a range of prescription-only medicines to the UK market, generating significant savings for the NHS. It is estimated that DBA products saved the NHS approximately £127m over the last five years.
Our team was led by Chairman Ian Morris (Corporate) and assisted by Daisy Divoka, Solicitor (Corporate), Lucy Bradban, Associate (Real Estate) and Lesley Hutton, Due Diligence Manager (Corporate).
In anticipation of this sale, we advised on the 2013 restructure of the group which significantly smoothed negotiations when Ethypharm expressed interest.
We have been the lead legal adviser to the DBA group since its formation in 2009, having previously acted for Dr Burston on the sale of other pharmaceutical businesses including Ashbourne Pharmaceuticals and Bartholomew Rhodes.
Dallas Burston, Former Chairman of DBA comments: “Ian and the team at EWW have advised me on numerous transactions over the last 25 years, ranging from the sale of individual companies to the acquisition of product rights. The ability of EMW to provide a range of expertise around employment, property, intellectual property law has meant that we have been able to use a single law firm with all the necessary expertise who when necessary can work as a team. This was ably demonstrated in the sale of DB Ashbourne Ltd to Ethypharm where a range of legal disciplines were required.”
Based in France, Ethypharm has a strong presence across Europe and develops innovative drugs to treat pain and addiction. The combined group has a turnover of more than €240m.
Cavendish Corporate Finance, the UK’s leading sell-side mid-market M&A firm, also advised on this deal.