The specialist pharmacy team at Newcastle-based law firm Sintons has overseen the £37m management buyout (MBO) transaction of pharmaceutical wholesaler DE Group by managing director Mark Guilliford and finance director Andy Wilson.
Funding to support the MBO was provided by RBS Invoice Finance, which structured a £37m asset-based lending package. KPMG provided corporate finance advice while DLA Piper acted as an adviser to RBS Invoice Finance.
DE Pharmaceuticals is targeting £196m turnover in three years following the MBO.
Christopher Welch, a partner in the company and commercial department at Sintons, led the team that completed the deal. Along with AlokLoomba, partner in the real-estate team, and associate AdrianDye, the team is highly regarded across the north of England for its pharmacy expertise.