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November 10, 2024
PI Global Investments
Private Equity

Private equity to buy Galway pharma giant Chanelle


British private equity company Exponent is closing in on a deal to acquire Chanelle Pharma, one of Ireland’s biggest indigenous pharmaceutical companies.

Exponent is said to be the front­runner to acquire the Galway business in a deal reckoned to be worth more than €300 million.

Sources say rival private equity firms HIG and Duke Street Capital were also in the frame for the business, which was founded by Michael Burke, a vet, in 1985.

Chanelle is the country’s largest maker of generic pharmaceuticals for humans and animals. Burke hired investment bank Rothschild to find a buyer last year, with initial indications suggesting that the group could sell for up to €400 million.

However observers say that the higher price was based on attracting a trade



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