Founded in 1985, Chanelle Pharma employs over 730 people in Ireland, the UK, Europe and Jordan. The company provides a variety of services to its customers including research and product development, registration, and production of generic pharmaceuticals for both Human and Veterinary Pharmaceuticals.
Exponent has a track record of successfully transforming and growing the companies it invests in. The firm recently opened an office in Dublin and has made investments totaling over €1 billion in Irish-owned or Irish-based businesses to date. Chanelle Pharma is the firm’s 6th platform investment in Ireland.
Michael H Burke, Founder and Managing Director, Chanelle Pharma said: “Having dedicated my life to building Chanelle Pharma into a global company, I have decided the time is right to allow new owners to lead the company into its next phase of growth. I am very pleased that Exponent is acquiring Chanelle Pharma. They value the heritage of our company and share our ethos and vision. They have the expertise and resources to grow Chanelle Pharma with new investment across all our operations.”
David McGovern, Partner at Exponent, said: “We are delighted to invest in Chanelle, a company we have admired for a long time. Our investment in Chanelle demonstrates our commitment to partner with market leading Irish businesses seeking to grow internationally and accelerate their growth. We look forward to working closely with Chanelle’s management team to strengthen its global presence and invest in its capabilities. We applaud Michael’s leadership of the business and thank him for trusting us to take Chanelle forward.”
The sale of Chanelle Pharma marks the end of an era as Michael H Burke will retire from the business.
“I want to thank my management team, all our employees and our customers and suppliers who have supported me personally, and Chanelle Pharma over the past 40 years and I wish David, James and all in Chanelle Pharma continued success in the future,” he said.
About Chanelle Pharma
Chanelle Pharma’s Headquarters in Loughrea is located on a 17-acre site and includes three manufacturing plants, four research and development centers, warehousing, and offices. Its Spot On manufacturing has FDA approval, allowing the company to export to the United States. The Loughrea site manufactures generic pharmaceuticals for export to over 90 countries and works with the biggest generic companies across the world.
The company’s success has been built on a strong product development pipeline. In the EU it holds the largest number of veterinary licenses of any animal health company. It undertakes annual investment of some €8 million in Research and Development of both human and veterinary animal health products. Under Burke’s leadership the company has continually grown its business each year since 1985.
Chanelle Pharma will remain an Irish managed company with the current management team remaining in place.
The sale is subject to approval from the Competition and Consumer Protection Commission (CCPC).
Related News
Don’t miss Contract Pharma’s roundup of pharmaceutical industry mergers & acquisitions in 2024.