Custom Pharmaceuticals Ltd has been acquired by its management team
Custom Pharmaceuticals, based in Hove, East Sussex (UK) announced that its senior management team has acquired the business in a deal supported by the Bank of Scotland.
The new owner Directors of Custom Pharmaceuticals are named as Nigel Richardson, Malcolm White, David Simkins, Jerry Russell (pictured), Neil Baldwin and Carol Greenway. The team has a combined total of 50 years service with the business.
Custom Pharmaceuticals is a major UK-based Contract Manufacturer of branded, generic, OTC and pescription medicines with a current output in excess of 1.2 billion tablets and 50 million capsules per year. The company’s packaging operations produce more than 25 million blister packs and two million labelled bottles.
The company revealed that over the last 3 years, capital investment in the business has totalled £2.5 million. As sales have increased by more than 60% since 1999, Custom is looking for additional premises for further expansion.
The acquistion through Custom Healthcare Ltd with Finance from the MBO team was supported by the Bank of Scotland.
Custom’s 2003 sales are expected to top £9 million.
Keywords : Contract Pharmaceutical Manufacturer (CMO) Branded Generic OTC Prescription Medicines Tablets Capsules Blister Packaging Bottles
