Permira's Higèa buys Biomedicale for €8.6m

The deal saw the company valued at €15m, including €4.2m of net debt. Following the transaction, Higèa acquired an 80% stake in the business, while Zephyro retained a 20% stake and nominated one representative to the company's management board.

According to a statement, Italian healthcare equipment provider Higèa executed the acquisition as part of the expansion plan for the wider Permira-backed Pantheon Group. The group was founded in 2014 as the GP merged two healthcare machinery providers, Asteral Limited and Mesa Group. Following the merger, the group went on to make 12 acquisitions in the healthcare equipment sector across Europe. More recently, the group bought Italian business Ingegneria Biomedica Santa Lucia, as well as the biomedical arm of Iteon Tecnologie.

Company
According to a statement, Biomedicale posted a turnover of €16.7m with €1.3m of EBITDA in 2015 and employs 88 people.

People
Higèa - Alessandro Dogliani (chair, CEO).
Pantheon Group - Alessandro Dogliani (CEO).

Advisers
Buyer - EY (corporate finance); Gilberti Pappalettera e Treiscornia e Associati (legal); Maisto e Associati (tax).

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• Topics
• Portfolio management
• Healthcare
• Southern Europe
• Italy
• Permira
• Build-up