Private Equity Firm Trilantic Capital Acquires Italian CDMO
Trilantic Capital Partners Europe, a private equity firm focused on mid-market transactions in Europe, has completed the acquisition of a 90% shareholding in Doppel Farmaceutici after obtaining anti-trust approvals. Doppel is a contract development and management organization( CDMO) based in Italy for pharmaceutical research, development, formulation, manufacturing, and packaging.
Trilantic Europe acquired the 90% shareholding in Doppel from a number of Italian entrepreneurs, including Pierluigi Busca who has been a shareholder in Doppel since it was established in 1994. Paolo Lanfranchi remains a shareholder in the company with a 10% holding. Following the completion of the transaction, Paolo Lanfranchi has moved from his previous role as managing director to become chairman of Doppel. Giuseppe Cassisi, who has 30 years’ experience in the pharmaceuticals and CDMO sector, has become the company’s CEO.
Trilantic Europe and Doppel’s management team say that they have put in place a strategy focused on expanding Doppel both organically and as a platform to acquire other players in the CDMO sector. The strategy also includes plans to increase Doppel’s presence in international markets, such as the United States and the Far East, strengthening the company’s offer in research and development, strategic growth through the acquisition of niche capabilities such as injectable biotechnology medicines, and the development of greenfield projects.
Doppel has 460 employees and operates from two production plants in northern Italy, Cortemaggiore and Rozzano. The company principally manufactures and packs pharmaceutical products such as pills, pharmaceutical granules, creams, tablets, oral solutions, sprays, and injection vials. In 2009, the company launched a nutrition division at the Cortemaggiore plant, dedicated to the contract manufacturing and packaging of effervescent granules.
Since 2003, Doppel has also been active in food, nutraceutical, and cosmetic supplements as well as medical devices from its 24.7% shareholding in Procemsa Farmaceutici.
In 2014, Doppel had net revenue of EUR 83.4 million. The Italian market accounted for 63% of Doppel’s turnover with the remaining 37% coming from international markets.
Source: Trilantic Capital Partners