Cattaneo Corporate Finance has advised the shareholders of Hyperdrug Pharmaceuticals on the sale of the business to AIM-listed Vulcan Two Group PLC.
Vulcan Two plc (AIM:VUL) has completed the acquisition of Hyperdrug Pharmaceuticals and Cattaneo Corporate Finance is pleased to confirm its role in advising the Hyperdrug shareholders on the sale.
Hyperdrug is a D2C digital pharmacy and online pet store, dispensing and distributing veterinary and human medications, as well as a wide range of animal products and accessories. Based in County Durham, Hyperdrug is one of the UK’s largest operators in specialist online veterinary prescription pharmaceuticals. Hyperdrug’s eCommerce platform, which is integrated with an order management system, uses proprietary consumer-facing API technology, enabling live availability and delivery times to be displayed on the website.
The transaction provides an exit for the founding Watson family who will remain involved with Hyperdrug while positioning the business for its next phase of growth under Vulcan Two’s ownership. Vulcan Two, led by Chief Executive Michael Kraftman and Chief Operating Officer Brendan O’Brien, was admitted to trading on AIM in September 2025 with a mandate to acquire companies in the UK e-pharmacy market.
The acquisition of Hyperdrug represents part of Vulcan Two’s simultaneous acquisition of three UK e-pharmacy businesses that together constitute the foundation of its buy-and-build strategy while also raising gross proceeds of £40 million through an institutional placing.
The Cattaneo team of Martyn Pilley, Oliver Lowe and Seth Khag provided corporate finance advice to the shareholders of Hyperdrug who received legal advice from Ward Hadaway’s Teesside office led by Sean Jackson and Safia Kayum, with accounting advice provided by Clive Owen, led by Kevin Shotton. Vulcan Two was advised by Canaccord Genuity (Nominated Adviser and broker), Stephenson Harwood (legal), HaysMac (financial due diligence) and One Advisory (corporate governance).
Geoff Watson, Hyperdrug founder, commented:
“We really appreciate the support provided by the Cattaneo team who really got into the detail to help us through the due diligence process and we thank them especially for their advice in navigating the inevitable complications that arise during such processes and for explaining clearly to us the significance and impact of so many unfamiliar aspects.”
Commenting on the transaction, Martyn Pilley said:
“This was an ambitious project for Vulcan Two and we are pleased to have played a key role in it concluding successfully. The future looks exciting for Hyperdrug and the other businesses acquired which have compelling synergies. We will follow the progress of the new group with interest and enthusiasm.”
