Private equity firm Riverside has completed its first deal in Spain with the acquisition of Celvitae, a private cord blood bank.
Celvitae has been acquired by Riverside Europe Fund IV as an add-on to Crioestaminal Group.
Founded in 2007, Celvitae is licensed by the General Directorate for Regulation and Inspection of the Community of Madrid.
It is the only private bank in Spain to process samples within a hospital environment and maintain a complete maternal-foetal serum bank.
It processes all samples collected within 24 hours, using its laboratory at MD Anderson Internacional España (Madrid), guaranteeing a maximum percentage of live cells.
It complements the activities of Riverside platform Crioestaminal Group, a Portuguese company already operating in Spain.
Celvitae is Riverside’s first deal in Spain and its third on the Iberian Peninsula.
Marcos Lladó, Riverside partner, says: “The acquisition of Celvitae forms part of our strategy to create a European leader in the collection, isolation and freezing of stem cells. We intend to continue expanding the group’s international presence through further acquisitions of leading companies in other geographical areas, as well as diversifying into other services related to stem cells and genetic diagnosis.”
Raúl Santos, founder and chief executive of Crioestaminal, says: “Riverside is helping us consolidate our market position in stem cell storage in Spain and Portugal. The acquisition of Celvitae is a major step towards our objective of becoming a first rank company in the stem cell field, both in Europe and globally.”
Eladio Peón, Celvitae chief executive, adds: “We are excited about the growth opportunities offered by the combination of Celvitae and the Crioestaminal Group. The support of a solid company like Riverside is an extra value factor in building a group internationally through both organic growth and acquisitions.”
