Trilantic Europe invests €66m in Fondazione Maugeri

Following completion of the transaction, Maugeri will transfer all its operations into a newco, Istituti Clinici Scientifici Maugeri. Trilantic's vehicle, Fund V Europe, will take a 34% stake in the holding and Maugeri will take the remaining 66%. The GP plans to increase its investment to a total of €100m, with a subsequent increase of its stake to 43%.

According to Trilantic, the all-equity injection will cover the company's €56m debt with the remaining €10m providing the business with liquidity. Trilantic did not use an arranger to complete the deal.

Speaking to unquote", Trilantic partner Giacinto d'Onofrio said the company is planning to expand in the private sector. The plan includes the takeover of 3-5 public facilities, which will be sold by the Italian authorities by 2017. The GP expects to exit the business via an IPO by 2020.

Company
Founded in 1965, Maugeri is an Italian research hospital group offering diagnostic and therapeutic services with a focus on non-acute private hospital services.

The company is headquartered in Pavia and operates in 19 hospitals in Italy with 3,600 employees. In 2014, the business generated €300m in revenues.

People
Trilantic Europe – Vittorio Pignatti Morano (chair); Giacinto D'Onofrio (partner).
Fondazione Salvatore Maugeri – Gualtiero Brugger (chair); Paolo Migliavacca (vice-chair).

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• Topics
• Buyouts
• Healthcare
• Southern Europe
• Italy
• Trilantic Capital Partners (previously LBMB)
• Mid-market buyout