PE Tech Report


Like this article?

Sign up to our free newsletter

Permira Funds and the Marcucci family complete investment in Kedrion and BPL

Funds advised by Permira, in partnership with the Marcucci family and supported by their co-investors, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and Ampersand Capital Partners, have completed the joint acquisition and combination of Kedrion and BPL, alongside Kedrion’s existing shareholders, including FSI and CDP Equity and other minority investors.

The combination of BPL and Kedrion creates a global player for medicinal products derived from human blood plasma, which treat patients with rare and life-threatening conditions. Ugo Di Francesco, currently CEO of Chiesi Group, has been appointed the new CEO of the combined company, effective January 2023. Paolo Marcucci, co-founder of Kedrion, will continue as the combined company’s Chairman and CEO until Ugo Di Francesco joins the business, and thereafter as non-executive Chairman.

The business will have a combined US plasma collection footprint of close to 75 centres, with a portfolio of 37 life-saving products reaching over 100 countries. The business is expected to generate 60% of revenue in the US market with 10 marketed products, building on its strong established positions in Italy and the UK. The company is also establishing a presence in the Chinese market through its recent distribution agreement for Albuminex.

The Permira funds, in partnership with the Marcucci family, will support the combined company to grow organically through the internationalisation of its existing portfolio and the acceleration of new product development, as well as pursuing inorganic growth opportunities to become a further diversified and specialist rare disease platform. FSI and CDP Equity will reinvest alongside Permira and the Marcucci family and support the next phase of development of the business.

Like this article? Sign up to our free newsletter