Jamieson Corporate Finance provided advice to Hollyport Capital in relation to the sale of its shareholding in Sauflon Pharmaceuticals to CooperVision in a transaction valued at approximately $1.2bn. As a result of the sale, Hollyport will realise a return of over 60 times initial investment, an IRR in excess of 80%.
Sauflon is a specialist manufacturer of contact lenses, with annual sales in excess of £100m. Based in London, it has three state-of-the-art manufacturing plants, sales offices in over 10 countries, and products sold in over 50 countries.
In the seven years since Hollyport invested, Sauflon has established and expanded new production facilities in Hungary and launched a full suite of Silicon Hydrogel contact lenses, increasing turnover at a compound rate of 20% per annum. The transaction will give CooperVision the world’s most comprehensive portfolio of daily disposable lenses. The acquisition is subject to approval by the German competition authorities.
“The team at Jamieson have provided us with valuable advice over the past 8 months and I would like to thank them for doing an excellent job in facilitating the transaction.”
John Carter, CEO Hollyport
Ian Jamieson, John Greenland and David Kirkpatrick of Jamieson Corporate Finance advised Hollyport Capital.