Close Brothers Private Equity finances buy-out of Rosemont Pharmaceuticals

4th August 2006

Close Brothers Private Equity (CBPE), the UK mid-market private equity specialist, has announced it has backed the management buy-out of Rosemont Pharmaceuticals, a leading developer and manufacturer of oral liquid medicines.

Rosemont's oral liquids are prescribed to patients who are unable (due to swallowing difficulties) or unwilling to take solid dose medications. Most of these patients are either elderly or the very young.

Sean Dinnen, a Partner with CBPE who led the transaction with Investment Director John Fisher, commented:

"Rosemont is a high quality company in which we are delighted to have made an investment. The company operates in a clear, growing niche and has excellent opportunities to develop its range of products and to sell internationally."

John Blythe, Managing Director of Rosemont, said:

"We are delighted to have completed this deal with CBPE who we know to be a supportive backer of management teams. Rosemont has a strong independent future and hopes to continue to build on its leading UK position, whilst developing and exploring new markets, especially in the US and continental Europe."