Trilantic Europe supports add-on acquisitions to bolster healthcare portfolio in Italy and Germany
Trilantic Europe has supported seven add-on acquisitions across its portfolio companies since the start of 2020.
Trilantic Europe’s portfolio company, Doppel Farmaceutici, agreed on 21 May 2020 to acquire 90 per cent of Dietopack, a leading Italian family-owned contract manufacturing organisation (CDMO) founded in 2000 and headquartered in Emilia Romagna.
With 60 employees, the company focuses on nutraceutical products (representing 80 per cent of revenues) and pet nutritionals, producing probiotics, vitamins, minerals, nutritional supplements and high protein dietary supplements mainly distributed through pharmacies by its clients. Dietopack adopts a full-service approach and is engaged in all phases of the value chain including product development, regulatory, production, packaging and analysis.
This acquisition was preceded by a meticulous search by Doppel and the Trilantic Europe team for suitable add-on acquisitions with a focus on nutraceuticals, a high growth sector supported by increasing customer demand. The sector has been resilient to the Covid-19 outbreak as demand for nutritional supplements and vitamins that support immune systems has increased during this period.
Doppel also expects to generate significant synergies by introducing its multinational pharmaceutical clients to Dietopack and leveraging the R&D capabilities of Doppel’s newly launched early-stage lab.
Doppel’s acquisition of Dietopack creates a larger, more diversified and fully integrated CDMO operator offering pharmaceutical, nutraceutical and pet products to its client base, further consolidating the company’s market leading position as the second largest CDMO in Italy.
Dietopack represents the seventh add-on acquisition across Trilantic Europe’s healthcare portfolio over the past six months. In addition to Doppel, Trilantic Europe has three other healthcare investments, one in Italy and two in Germany, namely Maugeri, Oberberg and Care Home Group. Since early March 2020, management’s efforts across Trilantic Europe’s healthcare portfolio companies have been focused on tightly managing facilities to protect the health and safety of its residents and employees, while executing the planned buy-and-build strategies.
Vittorio Pignatti, Chairman of Trilantic Europe, says: “The recent add-on acquisitions executed by our healthcare portfolio companies show that our continued focus on growth through active buy-and-build strategies is working even in today’s challenging environment. Our portfolio of investments, which has always been prudently levered, is in a robust financial position despite the Covid-19 pandemic and we have material dry powder and bandwidth to accelerate growth initiatives across our businesses. We expect to complete other attractive add-ons and, in our sectors of focus, new platform investments over the coming months.”