Siparex admits Chequers, three others to next round for Plurima

The vendor will ask these bidders to present a confirmatory offer in the week starting on 20 December, seven sources close to the situation said, following a first round of binding bids last week. Siparex received between 10 and 20 preliminary offers at the beginning of December, five of the sources said.

The four remaining bidders filed offers last week that value Plurima at 10x its EUR 10m EBITDA, one of the sources said. Nextalia – previously reported to be the frontrunner – is still well-positioned but the auction is balanced, that source said.

Clessidra, Armonia, PAI and Ardian are no longer involved, two of the sources said, having made offers valuing Plurima in the 9x EBITDA region.

Last year, Plurima, an Italian, health-focused logistics service, generated EUR 58m in revenues, having seen demand for its services rise strongly during the Covid-19 pandemic.

The sale process, conducted by Vitale, kicked off at the end of September. Between 60% and 70% of the company's capital is for sale; sponsor Siparex will exit its 30% stake, and majority shareholder Luca Marconi will also sell part of his shares.

Vitale, Siparex, Plumira, Nextalia, Chequers, Armonia and Space Capital declined to comment. Iter, Clessidra, PAI and Ardian did not return requests for comment.

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