Pharma, Permira finalizes the acquisition of Kedrion and Bpl
The Permira funds completed the joint acquisition and unification of the biopharmaceutical company Kedrion (controlled by the Marcucci family, Fsi and Cdp Equity) and Bpl (Bio Products Laboratory)
At the start of the unification of the Tuscan group Kedrion, focused on plasma-derived therapeutic products, and of Bio Products Laboratory (BPL), specialized in the sector of rare diseases, under the control of Permira.
The Permira funds, in partnership with the Marcucci family and supported by their co-investors – a wholly owned subsidiary of the Abu Dhabi Investment Authority (Adia) and Ampersand Capital Partners – have completed the joint acquisition and unification of the company of biopharmaceutical Kedrion and the British group Bpl (Bio Products Laboratory), together with the current shareholders of Kedrion, including Fsi, Cdp Equity and other minority investors. This is what Kedrion communicates in a note .
From the union of Bpl and Kedrion, a global player is born in the field of medicinal products derived from human plasma for the treatment of patients with rare, life-threatening conditions.
The unified company, with a turnover of 1.1 billion euros in 2021 and almost 4,000 employees, will have its headquarters in Italy. Now the goal is the listing of the new entity on the stock exchange.
All the details.
THE OPERATION
In the new shareholder structure Permira and its co-investors will have 63% of the shares, while the Marcucci family, Fsi and finally Cdp will remain in a minority. The shareholder structure of Kedrion, as Borsa Italiana recalled in January, was made up of Fsi Investimenti (24%), Cdp Equity (25%) and the Marcucci family.
Assisting the Permira funds (which acted through a team led by Silvia Oteri) are Morgan Stanley, Ey, Latham & Watkins, Alvarez & Marsal, Giliberti, Triscornia e Associati, and Maisto e Associati. Lazard, Natixis, Carnelutti and Pedersoli instead assisted the shareholders of Kedrion. Finally, the Marcucci family was assisted by Terzi & Partners and Carnelutti. Bofa Securities and Goodwin Procter acted as advisors to Bpl and to Tii, the sole shareholder of Bpl.
The entire operation is worth 2.5 billion euros, on a group that will have consolidated revenues of around 1.2 billion euros.
THE GOVERNANCE
The new unified company will be led by Ugo di Francesco, currently CEO of the Chiesi group. He will take office from January 2023. Paolo Marcucci, co-founder of Kedrion, will continue to hold the role of president and CEO of the entire group until the entry of Ugo Di Francesco, and then keep the position of non-executive president.
WHAT IS KEDRION
Kedrion is a Tuscan company founded in 2001 by the Marcucci family with a large portfolio of 21 products and over 600 marketing authorizations worldwide.
The group produces and distributes plasma-derived drugs, which are developed from proteins extracted from human plasma and used to treat patients with haemophilia, primary immunodeficiencies, neuropathies, infectious diseases and other serious diseases.
WHAT DOES BPL
Bpl, on the other hand, is based in Elstree (United Kingdom) and manages a targeted portfolio of products in the rare disease sector and is active in the plasma sector.
THE NEW ENTITY
The merged company will operate according to a unified plasma collection model, which includes nearly 75 centers in the United States, and will have a portfolio of 37 life-saving products, with which to reach over 100 countries. It is estimated that around 60% of the turnover will be concentrated in the US market with 10 authorized products.
At the same time, the company will maintain a strong position in Italy and the UK, as well as establishing its presence on the Chinese market thanks to the recent Albuminex distribution agreement.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/sanita/pharma-permira-finalizza-acquisizione-di-kedrion-e-bpl/ on Wed, 21 Sep 2022 13:44:30 +0000.