Wise wholly acquires PH&T for €15m

Following completion of the deal, PH&T will undertake an acquisitive growth strategy, with the first bolt-on already secured and set to be announced in the coming months.

A new management team will be installed to lead the group, with VantagePharma founding director Ivan Veronese taking on the role of CEO.

The transaction is the seventh acquisition made by the Wisequity III vehicle, which holds €180m and is now more than 70% invested.

In November last year, Wise joined forces with New York-based Muzinich to acquire Primat, an Italian producer of protective treatments for mechanical parts.

Company
Founded in 1991 and headquartered in Milan, PH&T is a pharmaceutical business providing generic drugs, medical devices and nutraceuticals. The business generates around 80% of its turnover from international sales across 50 countries.

People
Wise’s investment team was led by partner Stefano Ghetti and director Gianluca Boni. Antonella Segù is CEO of PH&T, while Ivan Veronese will take the role of CEO in the wider group.

Advisers
Equity – Simmons & Simmons, Andrea Accornero, Claudia Scialdone (Legal); Studio Spadacini, Guido Sazbon, Lorenzo Centonze (Tax).
Vendor – Studio Albano Baldassari Avvocati (Legal); Financial Technologies, Daniel Dallinger (Corporate finance, M&A).

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