Clessidra and Avista acquire Rottapharm
Clessidra Capital Partners and Avista Capital Partners have acquired a 50% stake in Italian drugmaker Rottapharm from the founding family in a deal that values the business at €1.7bn, according to reports.
Each private equity firm will own a 25% stake in the company.
Carlyle Group, Charterhouse Capital Partners and Advent International are reported to have submitted rival bids for the firm.
Company
Founded in 1961 and based in Monza, Rottapharm is an Italian drugmaker. The company produces Dona, a glucosamine product that improves joints, and Mucoflux, a product for heart conditions and respiratory treatment. The firm reported a €600m turnover in 2010.
People
Alessandro Grimaldi is a senior partner at Clessidra. Thompson Dean is co-CEO of Avista.
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