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December 2016

The goal is to support the international growth of the Company, leveraging Mipharm as a growth platform in the CDMO industry

Milan, 06th December 2016 Mandarin Capital Partners II (MCP II) has successfully acquired a majority stake in the share capital of Mipharm Spa, an Italian leading Contract Manufacturing Organization (CMO) engaged in the manufacturing and packaging of a wide range of Finished Dosage Formulations (FDFs). The Group also provides product development services and clinical studies based on customer requirements and/or in house R&D.
MCP II total initial investment amounts to 16.4 million euro, with the goal to increase the total investment with acquisitions of selected targets. Cassiopea Partners (Buyer&rsquos financial advisor), Euteam (company owned by Mr. Maurizio Silvestri - ex CEO of Euticals) and some of Mipharm&rsquos Managers invested alongside MCP II.
Current CEO Mr. Pierangelo Costa will continue to manage the company. Mipharm has posted sales of around 37.9 m euro in 2015, with approx. 45 clients (Big Pharma, Global Generic companies, other pharmaceutical companies) located in 30 countries (i.e. in 2015 Exports account for about 65% of Revenues).
The investment is aimed at supporting international growth of the Company, leveraging on MCP II&rsquos network and business development channels in the European and Asian markets.
Cassiopea Partners and the lawyers of R&P Legal of Milan acted respectively as financial and legal advisor for MCP II; BPM and BPER acted as financing banks providing the acquisition and M&A lines. The seller was supported by Rothschild as financial advisor and by the lawyers of Bonelli Erede Pappalardo as legal advisor.
The due diligence process was conducted by Ernst & Young (financial and tax areas), R&P Legal (legal area), Goetz Partners (business) and Tauw (Environmental).