Singular ID (Italy) - Jan 2008

Innogest Capital has sold its 20% stake in high-tech player Singular ID in a trade sale valued at €13m and generating an IRR of more than 200% and a 2x money multiple over a five-month period. The purchaser is Indian pharmaceutical company Bilcare’s Singapore subsidiary. The premature exit was triggered by the purchaser’s interest and the quality of their offer.

Deal history

Innogest acquired Padua- and Singapore-based Singular in July 2007 in a deal valued at approximately €1.1m in what was a first round of institutional investment alongside Singapore-based operator Upstream Ventures. Initially the investors planned to deploy an international commercial expansion strategy and establish a presence in the US with the intention of generating a turnover in the vicinity of €60m by 2011. The exit strategy foreseen at the time was an IPO. A previous round of seed capital was provided by Advance Nanotech in 2005. Padua- and Singapore-based Singular ID was founded in 2004. The company specialises the commercialisation of magnetic tagging technology used for providing integrated solutions to protect people, brands, corporate images and market share from counterfeiting. In 2007 it reported a turnover of roughly €300,000. It employs 12 people.

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• Topics
• Southern Europe
• Exits
• Industrials
• Italy
• Trade sale