Wise acquires NTC to build up Italian pharma group

NTC’s founder wholly sold the business and subsequently reinvested for a minority stake.

The GP stated it intended to provide further capital to enable the newco to make additional bolt-on acquisitions. Wise has invested €15m in the group to date.

The deal is the seventh investment made by the Wisequity III vehicle, which raised €180m and is now more than 70% invested.

Wise wholly acquired PH&T in January 2015, and stated at the time it had already secured the newco’s first acquisition.

The resulting pharmaceuticals group will see both companies implement standalone development strategies while pooling distribution and development resources.

By creating a consolidated group of pharmaceutical businesses, Wise intends to develop an Italian business capable of competing in fast-growing developing markets.

Following the acquisition of NTC, the merged group will have a combined turnover of €25m.

Company
Milan-based NTC is a pharmaceuticals company operating within the generics, medical devices and nutraceuticals segments. The business was founded in 1997 and generates 85% of its revenues from exports to 55 countries. 

People
Stefano Ghetti, a partner at Wise, led the deal. Ivan Veronese, previously a director at VantagePharma, was appointed CEO of the group in January 2015.

Advisers
Equity – Simmons & Simmons, Andrea Accornero, Claudia Scialdone (Legal); Studio Spadacini, Guido Sazbon, Lorenzo Centonze (Tax).
Vendor – Pirola Pennuto Zei & Associati, Francesca de Fraja, Enrico Silvestri (Legal).

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• Topics
• Southern Europe
• Healthcare
• Buyouts
• Italy
• Wise SGR