M&A Deal Summary

Dechra Pharmaceuticals Acquires Putney

On March 15, 2016, Dechra Pharmaceuticals acquired life science company Putney from NewSpring Capital for 200M USD

Acquisition Highlights
  • This is Dechra Pharmaceuticals’ 10th transaction in the Life Science sector.
  • This is Dechra Pharmaceuticals’ 2nd largest (disclosed) transaction.
  • This is Dechra Pharmaceuticals’ 3rd transaction in the United States.
  • This is Dechra Pharmaceuticals’ 1st transaction in Maine.

M&A Deal Summary

Date 2016-03-15
Target Putney
Sector Life Science
Buyer(s) Dechra Pharmaceuticals
Sellers(s) NewSpring Capital
Deal Type Add-on Acquisition
Deal Value 200M USD
Advisor(s) Jefferies (Financial)
Latham & Watkins (Legal)

Target

Putney

Portland, Maine, United States
Putney, Inc. is a pharmaceutical company, providing high quality, cost-effective generic medicines for pets. Putney's reliable supply of affordable drug options empowers veterinarians, allowing them to provide the best possible medicine at the best possible price, and supports pet owners, helping them afford to comply with veterinary recommendations.

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Buyer(S) 1

Buyer

Dechra Pharmaceuticals

Northwich, United Kingdom

Category Company
Founded 1997
Sector Life Science
Revenue 682M GBP (2022)
DESCRIPTION

Dechra Pharmaceuticals is an international specialist in veterinary pharmaceuticals and related products business. Its expertise is in the development, manufacturing, sales, and marketing of quality products exclusively for veterinarians worldwide. The company's business is unique as the majority of its products are used to treat medical conditions for which there is no other effective solution or have a clinical or dosing advantage over competitor products. Dechra Pharmaceuticals was founded in 1997 and is based in Northwich, United Kingdom.


DEAL STATS #
Overall 11 of 16
Sector (Life Science) 10 of 14
Type (Add-on Acquisition) 9 of 14
State (Maine) 1 of 1
Country (United States) 3 of 5
Year (2016) 2 of 3
Size (of disclosed) 2 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-14 Laboratorios Brovel S.A. de C.V.

Mexico City, Mexico

Laboratorios Brovel S.A. de C.V. is a veterinary pharmaceuticals company.

Buy £4M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-16 Apex Laboratories Pty

Somersby, Australia

Apex Laboratories Pty Ltd. is a pharmaceutical company which manufactures, markets and sells branded non-proprietary prescription and other related companion animal products in Australia and New Zealand.

Buy AU$55M

Seller(S) 1

SELLER

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 36 of 86
Sector (Life Science) 5 of 6
Type (Add-on Acquisition) 19 of 48
State (Maine) 1 of 1
Country (United States) 35 of 85
Year (2016) 1 of 5
Size (of disclosed) 10 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-08 Celigo

Redwood City, California, United States

Celigo is an integration platform as a service (iPaaS) that allows IT and line of business teams alike to automate both common and custom business processes, enabling the entire organization to be more agile and innovate faster than competitors. Celigo was founded in 2011 and is based in Redwood City, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-29 South Moon Under

Annapolis, Maryland, United States

South Moon Under is a provider of an eclectic mix of men's and women's clothing, swimwear, accessories, jewelry, and gifts for the home. South Moon Under was founded in 1968 and is based in Annapolis, Maryland.

Buy -