Pharmaceutical services business, Ashbourne Pharmaceuticals, has today announced a £32 million financing deal which involves HSBC Private Equity acquiring a significant stake in the business. 

Ashbourne Pharmaceuticals was founded in 1984 by Chief Executive and sole shareholder, Dr Dallas Burston. Under his management the company has developed into one of the UK's leading suppliers of pharmaceuticals for dispensing doctors. Ashbourne's success is founded on the provision of a range of high quality products and services specifically targeted at this niche sector of the pharmaceutical market.

Dr Dallas Burston commented that "this commitment from HSBC endorses Ashbourne's position as the premiere provider of specialised sales and promotional service to this important sector which comprises 16% of the prescription only medicines written annually by general practitioners."

The deal values Ashbourne at £32 million and HSBC Private Equity are making a significant investment in the Company's shares alongside Dr Dallas Burston. Additionally, other key members of the management team will take an equity interest in the business. Bank facilities have been provided by Barclays.

Simon Pooler of HSBC Private Equity, who will become a non-executive Director, commented "Ashbourne has successfully created an attractive niche by identifying and servicing the needs of the dispensing doctors. We are delighted to back this management team in their expansion plans."