Principia backs Gada

The company's management, composed of Davide Ciattoni, Antonio Biagio De Marinis and Alessandro Pellegrinelli, will retain the remaining minority holding and continue to lead the business.

Principia invested via its Fondo Principia III- Health fund, which was launched in 2014 and raised €206m. Unquote understands that the vehicle is now 80% deployed.

In addition, financing for the deal was provided by Mediocredito Italiano, part of Intesa Group.

The company plans to use the fresh capital to consolidate its position in the medical devices market and further develop its offering in the integrated healthcare services sector.

Company
Founded in 2005 and based in Rome, Gada specialises in distributing medical devices for cardiac surgery, interventional cardiology and interventional radiology. The company also provides integrated healthcare services.

Gada generated EBITDA of €10.6m and net profit of €5m from revenues of €65m in 2017. It employs 100 staff.

People
Principia III-Health – Paolo Siviero (head of investments).
Gada – Davide Ciattoni (CEO). 

Advisers
Equity – McDermott Will & Emery (legal); Gitti and Partners (tax).
Company – Gianni Origoni Grippo Cappelli & Partners (legal); EY (corporate finance).

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• Topics
• Expansion
• Southern Europe
• Healthcare
• Principia
• Venture
• Italy
• EY (Ernst & Young)