FRP Corporate Finance advises Kelso Pharma on Alturix acquisition

The FRP Corporate Finance debt advisory team has supported pan-European specialist pharmaceutical business, Kelso Pharma (Kelso), on its acquisition of Alturix, a UK pharmaceutical company specialising in developing and commercialising originator and niche branded generics.

Kelso is a growing European specialty pharma business focusing on innovative, niche and complex medicines. The business is backed by Apposite Capital LLP, a private equity investor focused on the healthcare and life science sectors.

The acquisition of Alturix, with a product portfolio spanning a broad range of therapeutic specialisms, will scale Kelso’s commercial presence in the UK, supporting a long-term pan-European growth strategy via new product launches, cross-selling and in-licensing opportunities, following the 2023 acquisition of Velit Biopharma in Italy and Stirling Anglian Pharmaceuticals in 2022.  

The FRP Corporate Finance team was led by debt advisory partner Tom Cox, associate director Amit Bagga and manager Wenjie Jiang, who managed a competitive process to help Kelso secure a scalable financing package from European asset manager, Kartesia, to provide a runway for future growth. 

Cox said: “The acquisition of Alturix will prove transformative for Kelso Pharma, further expanding its commercial presence and creating one of the largest independent specialty pharma platforms in the UK.

“The two firms are a great fit and we look forward to watching them continue to grow in the coming years with the proven support of Apposite.”

Sam Gray, managing partner at Apposite Capital, said: “Bringing Alturix into the Kelso Pharma group represents an important step in our continuing growth strategy. Not only does the business add highly complementary products, but it will also enable us to achieve operational efficiencies through enhanced scale.

“The team at FRP Corporate Finance once again played a key role in guiding us through the process, with its expertise and hands-on approach making a real difference in helping us secure a highly scalable outcome that will allow us to accelerate our growth in the coming years.”

Tom Stratford, CEO at Kelso Pharma, added: “This is a milestone acquisition for Kelso Pharma, doubling the size of our UK business and building a pharma company of scale. The Kelso platform is now positioned for further international growth as we seek to expand the markets for ALTURiX’s products, as well as further enhancing Kelso Pharma’s position as a partner of choice for other pharma businesses and innovative products.

“Having the guidance and support of both the FRP Corporate Finance team and our backers, Apposite Capital, has been invaluable throughout this process as we drive the business forward.”