Albion Ventures has invested GBP2.65m in Masters Pharmaceuticals as sole investor.
Masters is a supplier and distributor of pharmaceutical products.
The investment will be used for continued expansion in its core markets of Latin America, the Middle East and the Caribbean. Masters is also seeking to open new markets in Asia.
Masters has appointed Bill Burns as non-executive chairman of its board. Burns is a high profile figure in the pharmaceutical industry with over 40 years’ experience in the sector most recently as chief executive of Roche Pharmaceuticals.
Masters was founded in 1984 by Zulf Masters, OBE, who is joining with Albion Ventures investing in the company’s next stage of growth.
Andrew Elder (pictured), partner, Albion Ventures, says: “Masters is an attractive investment for us because it operates within a global market that is experiencing a huge increase in demand for leading US and European drugs and treatments. There is real potential for it to become the market leader in this space and the appointment of Bill Burns adds real depth to an already talented and experienced management team.”
Dave Moran, chief executive officer, Masters, says: “Albion Ventures understand the pharmaceutical sector and what we want to achieve. We are impressed with their experience and track record and look forward to creating a market leading position with them and our new chairman, Bill Burns. His experience and distinguished leadership will enable us to actively pursue our expansion strategy in our existing and new potential markets.”
