Principia backs laser specialist Lambda

The company management, composed of Pierpaolo Marcon and Davide Agnoli, will retain the remaining minority holding and will stay on with the business.

Principia drew capital from Fondo Principia III- Health, which was launched in 2014 and raised €206m. Unquote understands that the vehicle is now 85% deployed.

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

Principia intends to boost the company's growth, consolidate its position in the dentistry and veterinary laser markets and further bolster its expansion into new segments.

Company
Established in 1996 and headquartered in Brendola, near Vicenza, Lambda specialises in designing and manufacturing lasers used in dentistry, cosmetic surgery, vascular surgery and art restoration. The company generated EBITDA of €3m from revenues of €10m in 2018, of which 30% came from Italy and the remaining 70% from the rest of Europe, China and North America.

People
Principia – Alessandro Damiano (fund manager); Alessia Rigoni (investment manager).

Advisers
Equity – McDermott Will & Emery (legal, tax); Long Term Partners (financial due diligence); PwC (financial due diligence).
Company – Edge Corporate Finance (corporate finance); L2B Partners (legal); Meneghini & Partners (legal).

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