Cinven has secured its second exit in a week by selling pharmaceuticals group AMCo to TSX/Nasdaq-listed Concordia Healthcare for a five times return on its initial investment.

Cinven will sell the company for an enterprise value of £2.3 billion which will include up to £145 million over the next 12 months if it hits certain performance targets, according to a statement. As part of the deal, the London-based firm will take a 19.9% stake in Concordia.