York Capital, Elements Capital buy Pillarstone-backed Famar

According to press report, the company has an enterprise value of around €35m.

The deal was made via a Luxembourg-based newco named Mpilo, which is controlled by the two GPs.

In addition to the entire share capital of Famar Italia, the Italian subsidiary of Famar, the deal also includes real estate company Famar Properties. It also comprises all Famar's production facilities located across Greece, Italy and Spain, while the plants based in France, the Netherlands and Canada were previously sold to French company Delpharm in November 2019.

Famar completed a €174m debt restructuring in December 2018. According to the deal, Famar's €234m pre-existing debt was reduced by €116m. In addition, the deal included a senior facility of €58m underwritten by KKR-owned Pillarstone Greece.

Company
Established in 1949 and headquartered in Anthoussa, Famar is a contract manufacturer of drugs, food supplements, ingredients and products for the pharmaceutical and beauty industries.

The company has production facilities located in Greece, Italy and Spain, and generates revenues of around €130m.

Advisers
Equity – Legance (legal).
Company – Pedersoli Studio Legale (legal). 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Restructuring
• Southern Europe
• Healthcare
• Consumer
• KKR
• Greece