Investindustrial-backed Lifebrain buys clinical lab Galeno

Investindustrial bought Lifebrain in April 2018 by deploying equity from its Investindustrial VI Fund, which held a final close on its €2bn hard-cap in February 2016, three months after launch. The vehicle mostly targets mid-market companies with strong internationalisation potential headquartered in southern Europe.

In addition, the financing for the transaction was underwritten by UniCredit, Natixis and Raiffeisen Bank International as mandated lead arrangers and bookrunners, while UniCredit and Natixis acted as global coordinators.

Galeno will be integrated within the Lifebrain business and will contribute to consolidate its market position in Italy and increase its turnover. The company recorded revenues of €100m in 2018.

Company
Based in Ortona, Galeno is composed of two companies: Galeno Lab, which specialises in clinical and medical analysis; and Galeno Rp, which provides chemical analysis to companies operating in the food industry. The business generated EBITDA margin of 17% from revenues of €3.5m in 2018.

People
Lifebrain – Michael Havel (CEO); Bernhard Auer (CFO).
Investindustrial – Carlo Umberto Bonomi (managing principal).

Advisers
Vendor – Rödl & Partner (legal).
Acquirer – Studio Legale Chiomenti (legal).

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• Topics
• Portfolio management
• Southern Europe
• Healthcare
• Investindustrial
• Italy
• Build-up
• Buy-and-build