Chippenham based Vectura agrees £958 million takeover by Carlyle Group

Vectura

Chippenham-based inhaled medicines business Vectura Group PLC has agreed on a £958 million takeover by global private equity firm Carlyle Group, a private equity firm with $260 billion of assets under management.

Vectura, which employs around 450 people, is a provider of innovative inhaled drug delivery products that enable partners to bring their medicines to patients. With differentiated proprietary technology and pharmaceutical development expertise, Vectura is one of the few companies globally with the device, formulation and development capabilities to deliver a broad range of complex inhaled therapies. Vectura has thirteen key inhaled and eleven non-inhaled products marketed by partners with global royalty streams, and a diverse partnered portfolio of drugs in clinical development.

Bruno Angelici, Vectura’s chairman said: “Vectura has made strong progress since embarking on its new strategy in 2019 to become a leading inhalation focused CDMO, whilst continuing to deliver strong financial and operational results in its royalties and product supply businesses.

While the Vectura Directors remain confident in the long term fundamentals of the Vectura Group, we believe that this is an attractive offer for Vectura Shareholders, which secures the delivery of future value for Vectura Shareholders in cash today. The offer reflects the quality, strength and long term performance of Vectura’s businesses and its future growth potential. We believe that our people, our clients and our businesses will continue to prosper under the stewardship of Carlyle.”

Simon Dingemans, a Managing Director in Carlyle’s European buyout advisory group said: “We have followed the strategic changes underway at Vectura closely and fully support the focus on building a market leading inhalation specialist CDMO. We believe that under Carlyle’s ownership Vectura will be able to accelerate its transformation significantly with greater access to capital and the support of our long experience in the sector. We look forward to working with Will Downie and his team.”