Penn provides a selection of Contract Development and Manufacturing Organization services.

Established in 1979, Penn provides a selection of Contract Development and Manufacturing Organization ('CDMO') services to its high-quality customer base that comprises some of the world’s leading pharmaceutical and biotech companies. Penn undertakes contract manufacturing for commercial and clinical trials and is one of the few companies globally with the skills and facilities to produce highly potent products in both small and large commercial quantities.

In 2007 LDC invested £33million in an secondary buy-out of Penn Pharma, LDC recognised the business had significant growth potential and capabilities to make huge strides in the pharma manufacturing sector.

LDC worked with a high quality Non-Executive Director during a difficult trading period (2008-10) to stabilise the business and recruited a high quality management team with industry credibility.

In 2013 the business, with additional backing by LDC, opened a brand new £14million world-leading 15,000 sq ft, purpose built contained manufacturing facility, investing in cutting edge technology, primarily to enable the development and manufacture of capsules containing highly potent compounds. It also gave Penn a clear strategic advantage over international rivals.

Penn won a number of awards including world renowned ‘Facility Integration of the Year’ award from the International Society for Pharmaceutical Engineering

Since the original investment, annual turnover rose £17million (2007) to over £30million (2014) with EBITDA increased by 51%, this rate of growth was driven by high potent revenues.

LDC and management increased the quality of workforce, enabling the business to target, win and manage more complex projects, the business grew to 300 people, a 47% increase since 2007.

Penn Pharma was sold in 2014 to Packaging Co-ordinators Inc, a USA-headquartered global leading packaging services provider in a £127m deal, delivering a 2.9x return.

LDC’s support and strategic input to our business has been invaluable, and ensures that we are now well placed to embark upon the next stage of our growth plans. The deal with Packaging Coordinators Inc, represents a great outcome for our business, providing us with a solid platform from which to build further scale in the global pharmaceutical manufacturing market.
Chief Executive, Penn Pharmaceuticals