Kelso Pharma

Kelso Pharma (Kelso), a pan-European specialist pharmaceutical business, completed the acquisition of ALTURiX, a UK-headquartered pharmaceutical company, in a deal supported by our FRP Corporate Finance Debt Advisory team.

Kelso is a fast-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.

Our debt advisory team, led by Partner Tom Cox and Associate Director Amit Bagga, supported by Manager Wenjie Jiang, were appointed as exclusive debt adviser to support Kelso with the financing facility for the transaction.

The team managed a competitive process, helping the company secure a scalable financing package from European asset manager, Kartesia to provide a runway for future growth. Our team managed each stage of the process, delivering a highly competitive and flexible financing solution.

Tom Cox, Partner at FRP Debt Advisory, said: “The acquisition of ALTURiX will prove transformative for Kelso Pharma, further expanding its commercial presence and creating one of the largest independent speciality 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.”

Dr 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.”

Kelso Pharma were advised by FRP Corporate Finance (Debt Advisory), Pinsent Masons (Debt Legal), Gowling WLG (Equity Legal), Shepherd and Wedderburn (Corporate Legal), EY (FDD and TDD) and Pharmacloud (CDD).