HIG Capital acquires Aspire Pharma
HIG Capital (HIG), a leading global alternative investment firm with USD45 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired Aspire Pharma Limited (Aspire), a UK provider of niche generic and branded specialty pharmaceuticals, alongside its founder Graham Fraser-Pye. The financial terms of the transaction have not been disclosed.
Aspire licenses and develops niche generic and specialty pharmaceutical products that offer innovative formulations, value for money for payors, and reliable supply arrangements in markets that are often underserved. The business holds leadership positions in urology, ophthalmology, CNS and dermatology, with a highly diversified portfolio of more than 250 products across multiple categories, including branded specialty products and unbranded niche generics. HIG, together with the management team, aims to continue Aspire’s strong track record of organic growth and to support new initiatives, such as M&A and international expansion. The existing management team of Aspire Pharma will remain in place, with Graham Fraser-Pye taking the role of Chairman.
Fraser-Pye says: “I am very pleased to welcome HIG as a key investor in the future of Aspire Pharma. Since our foundation in 2009, we have grown rapidly and consistently through our astute strategic choices and extensive development know-how. HIG, with its significant financial and geographic reach, will help us maintain our impressive growth trajectory and take Aspire into another exciting phase for its people and customers. We remain committed to the development and supply of innovative products and medicines that offer value to our customers and make a difference to the lives of patients.”
John Harper, Managing Director and Head of the HIG Europe Lower Middle Market LBO team in London, says: “We are delighted to be supporting Graham and his team to further build upon Aspire’s success. The Company’s track record of identifying, developing and launching niche pharmaceutical products, coupled with HIG’s international presence and history of supporting organic and acquisitive growth in its portfolio companies, underpins an exciting next chapter for Aspire.”