Western Reserve Partners Advises Hanford Pharmaceuticals in Divestiture to Steri-Pharma LLC

October 6, 2009

Western Reserve Partners LLC announced today that it represented the G.C. Hanford Manufacturing Co. (“Hanford Pharmaceuticals”), a privately-held company based in Syracuse, New York, in the divestiture of its cephalosporin finishing facility to Steri-Pharma LLC (“Steri-Pharma”), a Paramus, New Jersey-based sterile pharmaceutical finisher.

Leading the assignment for Western Reserve Partners were Managing Directors Mark A. Filippell and Kenneth A. Hirsch, Vice President Justin A. Wolfort and Analyst Erin E. Evans. “Hanford Pharmaceuticals is a market leader and we have enjoyed working with them on this transaction,” said Filippell.

Founded by George C. Hanford in 1846, Hanford Pharmaceuticals is the only U.S.-based independent contract antibiotic finisher, specializing in the sterile filling of injectable antibiotics. The Company also fills proprietary veterinary products and provides ancillary product development and support services for its customers.

“This divestiture will allow us to focus our efforts on redeveloping our other facilities to produce clinical quantities of penicillin and other drugs for pharmaceutical companies,” said George W. Hanford, Chief Executive Officer of the Company. “Western Reserve Partners did an outstanding job of evaluating our alternatives and advising us through all stages of the transaction.”

Western Reserve Partners is a boutique investment banking firm that provides customized investment banking solutions for middle-market companies. The firm’s Managing Directors average more than 15 years of experience and have directly executed more than 550 transactions. Western Reserve is also a member of M&A International Inc., the world’s leading alliance of investment banking firms, with 40 members and more than 600 professionals across 37 countries. For more information, visit www.wesrespartners.com.

The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success.