MANDARIN CAPITAL PARTNERS ACQUIRES MIPHARM SPA
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, with the goal to increase the total investment with acquisitions of selected targets. Cassiopea Partners (Buyer’s financial advisor), Euteam (company owned by Mr. Maurizio Silvestri – ex CEO of Euticals) and some of Mipharm’s 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 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 atsupporting international growth of the Company, leveraging on MCP II’s 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; 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).
About Cassiopea Partners
Cassiopea Partners is a privately-owned and independent investment banking advisory firm providing advisory services to domestic and international corporations on corporate finance transactions (i.e M&A, Debt Advisory, Restructuring, Capital Raising). More information about Cassiopea can be found on the Company’s website at www.cassiopeapartners.com.
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