Mezzanine Management sells Optimapharm to Rohatyn Group

The GP claims that the transaction generated a strong IRR and money multiple, following an 18-month holding period that saw profits triple and turnover double.

TRG was chosen by the shareholders from a shortlist of suitable bidders in a private process.

Mezzanine Management provided a €10m mezzanine facility in October 2018 and acquired a minority equity stake in Optimapharm through AMC Capital IV, a 2016-vintage €264m fund, marking its first investment in Croatia. The capital was used to support organic expansion as well as three add-on acquisitions in the Czech Republic, Switzerland and Austria.

With the new investment, Optimapharm hopes to continue to grow both organically and through strategic acquisitions.

Company
Founded in 2006 and headquartered in Zagreb, Optimapharm is a full-service, mid-sized contract research organisation that manages clinical trials of new drugs for clients in the pharmaceutical, biotechnology and medical device sectors. It has a repeat-business rate of more than 95%, the company claims.

Optimapharm operates a total of 15 offices in cities across Europe and employs 120 people. The company's acquisition of Czech Republic-based MKS Research in 2018 brought its annual revenues to €12m.

People
Mezzanine Management – Chris Buckle (co-managing partner).
The Rohatyn Group – Nick Rohatyn (CEO).
Optimapharm – Gordana Gregurić Čičak (founder, CEO); Igor Čičak (founder, chairman).

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• Topics
• CEE
• Exits
• Healthcare
• Buyouts
• Croatia
• Secondary buyout