Synergy Capital Managers has made an investment in Darl Pharmaceuticals, a fast growing pharmaceutical integrated value chain business in Ghana, via its Synergy Private Equity Fund (SPEF).

Since inception in 2010, Darl has consciously evolved into a strategic player in the supply chain for production and distribution of own-manufactured and contract manufactured pharmaceutical products across Ghana.

Darl is focused on building a best-in-class integrated pharmaceutical operation establishing a dominant position in the market.

The investment in Darl is the first by SPEF in Ghana and the fourth overall since its first close in September 2014.

This investment will enable the company undertake the expansion of its business including increasing manufacturing capacity and distribution footprint nationally.

David Ado, promoter and CEO of Darl Pharmaceuticals, said he was delighted about the investment of Synergy Private Equity Fund in Darl: “With our current expansion, we expect to more than quadruple revenue within a year and further entrench our position in the market.”

“Our goal is to be the number one brand in the pharmaceutical industry, offering unique selling experience using a rich talent of human resource. We know we can achieve our goal and attract more resources to enable us enter the sub-region,” he added.

Synergy is convinced that the company has great potential to establish a market leading position in the pharmaceutical industry in Ghana.

Akintoye Akindele, Partner, Synergy Capital Managers, commented: “Darl is a very interesting opportunity for us. We find the founders very impressive and they show the commitment that is required to build this franchise into a leading pharmaceutical business not just in Ghana, but also across the region in the future. We are very excited to partner with them to build a world-class business.”

“Ghana represents an important market for us and we continue to see very attractive opportunities across numerous industry sectors. We are working to complete a couple more investments in Ghana in the coming months,” he added.

SPEF is a private equity fund domiciled in Mauritius and focused on making investments in select high growth sectors in Nigeria and Ghana.