Archimed preps Citieffe for sale, Potomac advising

The vendor hired Potomac to run the process, and teasers code-named Project Emily have been circulated among prospective bidders, the sources said.

Citieffe is expected to be marketed off 2023 EBITDA of EUR 5m, one of the sources said.

There is no exact time frame for the process, one of the sources said, noting that Archimed's investment in the company has reached maturity.

The firm was acquired by ArchiMed, a specialist French private equity firm focused on European healthcare-oriented companies, in 2014.

Headquartered in Calderara di Reno, near Bologna, Citieffe is specialised in trauma orthopedics and manufactures medical devices for internal and external fracture fixation and limb reconstruction as well as prosthesis and general surgical instruments.

In 2019, Citieffe posted turnover of EUR 11.5m. In 2020, it received EUR 9m in financing to launch its latest devices on the US market and speed up the release of other products.

Archimed and Citieffe did not respond to requests for comment. Potomac declined to comment.

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