DFW Capital Partners (“DFW”) announced today that its portfolio company, Sebela Pharmaceuticals (“Sebela”), has completed the acquisition of Braintree Laboratories Inc., (“Braintree”), a privately held specialty pharmaceutical company based in Boston, Massachusetts. Braintree develops, manufactures and markets specialty pharmaceuticals in gastroenterology. Braintree’s market-leading colonoscopy prep franchise includes SUPREP™, the #1 prescribed colon prep since 2013. In addition, Braintree has a dedicated commercial team with highly qualified field-based sales personnel; an in-house manufacturing facility; a wealth of clinical, regulatory and product development expertise; and a rich near-term pipeline of GI products.
Alan Cooke, Sebela CEO, said: “The acquisition of Braintree is transformational for Sebela. It immediately propels the company into a market leading position in one of our core therapeutic areas of gastroenterology and leverages our investment in a number of key areas including our executive team, commercial organization and our near-term development pipeline. The combined company, on a pro forma basis, is expected to generate approximately $250 million in 2018 revenue and creates a platform for significant growth focusing on our core therapeutic areas of gastroenterology, dermatology and women’s health.”
Alan added “Braintree CEO, Harry P. Keegan IV, and his team have built a powerful, highly successful specialty brands business in the GI/colonoscopy prep market, including SUPREP™, the market leading colon prep. We are confident that Braintree’s complementary capabilities will strengthen Sebela’s core competencies and together the combined company will provide a strong foundation to support multiple product launches from our rich pipeline of GI products over the next three to four years. I am delighted to welcome the Braintree employees to Sebela. Today marks the start of an exciting new chapter for everyone in the company and we look forward to the many opportunities and significant value this acquisition will create for all our stakeholders.”
Harry P. Keegan IV, Braintree Laboratories CEO, said “Braintree Laboratories has been developing products for colonoscopy preparation for many decades and introduced its first product to the market in 1986. Sebela’s acquisition of our company is a testament to the strength of the business we have built. I am very proud of our team for its continued hard work, dedication, and innovation in developing, manufacturing and marketing solutions for colonoscopy prescribers and patients. The Braintree and Sebela businesses together represent a great strategic fit and will be a stronger and more competitive organization positioned for significant growth. I wish Alan and the combined team every success for the future.”
Leadership and Organization
Sebela and Braintree will be combined under the parent company, Sebela Pharmaceuticals and will be led by Alan Cooke, Sebela’s CEO. Sebela and Braintree GI businesses will be merged into one. The combined GI businesses will operate under the Braintree GI brand serving the gastroenterology community. The dermatology and women’s health businesses will operate under the Sebela brand.
Leerink Partners LLC is acting as exclusive financial advisor and Burke Warren McKay and Serritella PC and Mayer Brown LLP are acting as legal advisors to Sebela. Chestnut Securities, Inc. is acting as exclusive financial advisor, and WilmerHale is acting as legal advisor, to Braintree.
About DFW Capital Partners
DFW has established a 20+ year track record of success in building leading companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW is headquartered in Teaneck, New Jersey and maintains an office in Chevy Chase, Maryland.