Alantra advises NorthEdge on its investment in sterile injectable CMO, Torbay Pharmaceuticals



Nov 2023
Buy-side advisory

London – Alantra, the independent global mid-market financial services firm, has advised private equity firm NorthEdge on its investment in sterile injectable contract manufacturer and licence holder Torbay Pharmaceuticals (Torbay). NorthEdge’s investment will support Torbay’s next phase of international growth.

Over the last six years, Torbay has been on a rapid growth journey that has seen an increasing demand for its commercial-scale sterile injectable fill/finish capabilities. The business supplies healthcare organisations and pharmaceutical companies throughout the UK and internationally.

NorthEdge’s investment will see Torbay strengthen its capabilities and significantly expand its reach in North America, while continuing to grow and invest in its 250-strong team at its UK headquarters in Paignton, Devon.

Further North American market expansion offers a range of commercial opportunities for Torbay. To support this, the investment will facilitate the growth of Torbay’s team, greater automation of inspection and packaging processes and strengthen its plastic vial capabilities – ensuring Torbay is well-positioned to meet evolving regulatory requirements in both the US and Europe. Torbay has also invested in a new high-speed filling line to support customer growth.

NorthEdge is backing CEO Emma Rooth, and a highly experienced management team, to deliver the exciting and ambitious growth plan.

The Alantra deal team advising NorthEdge was led by Drew Wightman, Managing Director Pharma & Life Sciences, and Justin Crowther, UK Head of Healthcare. They were supported by Alex Trevor, Daisy Miller and Jordan Hamilton.  

Drew Wightman, Managing Director at Alantra, said, “It was a pleasure to have advised NorthEdge on this carve-out transaction. NorthEdge is supporting an ambitious plan to enhance Torbay Pharmaceutical’s operational capabilities and global reach, whilst building on its heritage as a highly-regarded UK-based manufacturer of essential medicines used in secondary care and emergency settings.”

Ray Stenton, Managing Partner at NorthEdge, said, “We are delighted to be supporting Emma and the Torbay team on the next phase of their journey. This investment will allow management to accelerate the growth of the business, which will further improve patient outcomes nationally and internationally. We understand the significance of this investment and take our responsibilities of growing the business in a sustainable way very seriously, ensuring Torbay remains an employer of choice in the region and continues to add value to its long-standing customers, as well as the local economy. We look forward to playing our part in growing another business of global significance from the UK regions, working with Emma and the team to build a better business, together.”

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