Top 100 law firm DMH Stallard has completed the sale of Durbin PLC (UK) and Durbin Inc (US) to healthcare services company Uniphar.
Durbin is a worldwide sourcing and distribution pharmaceutical platform with business in the UK and the US, supplying more than 160 countries.
Dublin-based Pharma business Uniphar offers global markets a highly developed e-commerce platform and patient management system.
Financing became conditional on a public float by Uniphar in Ireland, which successfully raised €135 million, allowing the Durbin sale to complete on 31st July 2019.
The £24 million deal will see the founder of Durbin, Leslie Morgan, take up a non- executive role.
Jonathan Grant, Partner at DMH Stallard, led the team advising Durbin. He said: “Uniphar has been a sourcing partner for Durbin since 2011. The clear synergies between Durbin and Uniphar made this a compelling deal for both businesses.”
“I was delighted to work with Leslie and his family and assist in closing the deal as smoothly as possible.”
Capnua and William Fry led for Uniphar, with DMH Stallard handling legal and all deal negotiations for Durbin.
Durbin decided not to appoint corporate finance advisers, having agreed deal terms with Uniphar directly.