CMC Advises Delta Med in the Sale to Augens Capital and DB Private Equity
Milan – Eukedos S.p.A. and Augens Capital announce the signature of a definitive agreement for Augeo 1 S.r.l., an investment vehicle affiliated with Augens Capital, to acquire Delta Med S.p.A. (“Delta Med”). The transaction is expected to close by the end of November.Delta Med is a leading global manufacturer of peripheral vascular access devices and is active in the production and distribution, in Italy and abroad, of disposable medical devices and accessories for infusion therapies, custom packs for operating rooms and other products for the pharmaceutical, healthcare and dental sectors.Based in Viadana, near Mantua in Northern Italy, Delta Med sells its products globally and generated revenues of €16.5 million in 2014.
The transaction contemplates the acquisition of 100% of Delta Med’s share capital by Augeo 1 S.r.l., a newly incorporated entity which is controlled by Augens Holding S.r.l. and whose shareholders include funds managed by DB Private Equity (the private equity division of Deutsche Bank) and a group of Delta Med’s managers led by its Chief Executive Officer, Alessandro Balboni.
”Delta Med is a leading company in an important segment of the medical device space which enjoys a strong reputation thanks to the quality of its products” declared Marco Mantica, partner and Chief Executive Officer of Augens Capital. “Delta Med has a strong development potential in Italy and on foreign markets thanks to a solid product portfolio, collaborations with leading international groups and a rich pipeline of new products.”
“We are very happy with this transaction which completes our program of non-core asset disposals and hands over Delta Med to a new set of shareholders. Augens Capital has the right set of competencies to fully realize the potential of a high quality company like Delta Med” declared Carlo Iuculano, Chairman of Eukedos.
“In recent years, Delta Med has become the Italian leader in the peripheral vascular access devices sector, with specific focus on safety intravenous catheters” said Alessandro Balboni. “Thanks to a modern and highly-automated production plant, Delta Med is able to manufacture products with the highest quality standards certified by the World’s leading health authorities. I am convinced that Augens Capital is the ideal partners to support Delta Med in reaching important growth and development objectives, both organically and through add-on acquisitions.”
The acquisition of Delta Med will be financed with a senior loan facility arranged by MPS Capital Service (MPS Group). Augens Capital was assisted by EY and Essentia Advisory. LMS acted as Augens Capital’s legal advisor. Chieffi Murelli acted as legal advisor and CMC Consulting Group as financial advisor to Eukedos.
About Augens Capital
Augens Capital is an investment firm set up in 2014 to invest in Italian mid-market companies with specific focus on family-owned companies facing succession or generational issues, orphan companies and situations where sector consolidation and international growth can be supported by its network of relationships.
Eukedos S.p.A., listed on the Italian Stock Exchange since 2006 as Arkimedica (and Eukedos today) is one of the leading Italian groups in the managed care segment. Eukedos represents a point of reference in the offering of services in the managed care space and, through Edos S.r.l. manages approximately 1.300 beds in managed care homes in Italy’s main regions.
About CMC Consulting Group
CMC Consulting Group is an international advisory firm providing integrated transaction services, management and medical affairs consulting and contract research to companies in the life science industries. This integration provides clients a seamless interface between strategy and implementation and incorporates a range of perspectives designed to optimize engagement outcomes. With offices in the United States, Asia and throughout the EU, the firm complements global industry knowledge with rich local market insight.