Star Capital purchases Biochemical Systems stake

The deal saw the GP inject a €10m equity ticket as part of an overall €12.5m equity injection, said a source close to the matter. The owner, Oliviero Giusti, retained a minority stake in the business and will continue to lead the company as chairperson.

The GP acquired its controlling stake via its Star III Private Equity Fund. Following the deal, the GP aims to support the company's growth internationally via strategic acquisitions, unquote" understands.

In June 2013, Star Capital held a €87.7m final close for its third vehicle below its initial €120m target. At the time of publication, the fund had five assets in its portfolio: Codyeco, Castfutura, Goldplast, GLM Group and CSO Pharmitalia.

Company
Founded in 1991 and headquartered in Arezzo, Biochemical Systems produces automatic and semi-automatic diagnostic devices focusing on both the human and veterinary diagnostics markets. The company's client base includes emergency units, veterinary clinics, surgeries and blood transfusion centres.

The business posted €18m in revenues with a 19% EBITDA margin in 2016, and currently employs 34 people.

People
Star Capital – Marco Gazzaniga (CEO).

Advisers
Equity – Studio Russo De Rosa Associati (financial due diligence, tax); Accinni Cartolano e Associati (legal).
Vendor – Chiomenti (legal).

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• Topics
• Buyouts
• Healthcare
• Southern Europe
• Italy