The Permira Funds, in partnership with the Marcucci family and supported by their co-investors – a wholly owned subsidiary of the Abu Dhabi Investment Authority and Ampersand Capital Partners – have completed the joint acquisition and the unification of Kedrion and Bpl, together with current Kedrion shareholders, including FSI, CDP Equity and other minority investors.
From the wedding between Kedrion and Bpl, the new world plasma player
From the merger of Bpl and Kedrion, a global player in the field of medicinal products derived from plasma for the treatment of patients with rare life-threatening conditions.
Hugh of Francis, currently CEO of the Chiesi group, has been appointed as the new CEO of the merged company and will take office from January 2023. Paul Marcucci, co-founder of Kedrion, will continue to cover the role of president and CEO of the unified company until Ugo Di Francesco joins; to then maintain the office of non-executive chairman.
The Tuscan company Kedrion "It carries with it a broad portfolio consisting of 21 products and over 600 marketing authorizations worldwide," underlines Permira's note. The British bpl, for its part, manages a focused portfolio of successful products in the rare disease sector, and is one of the fastest growing players in the plasma sector over the past five years.
37 life-saving products in 100 countries
“The company will operate a unified plasma collection model that includes nearly 75 centers across the United States, and will have a portfolio of 37 life-saving products with which to reach over 100 countries", explains the note, in which it is estimated that around 60% of the turnover will be concentrated in US market with 10 authorized products; meanwhile, the company will maintain a solid leadership position in Italy and the UK, as well as establish its presence on the Chinese market thanks to the recent Albuminex distribution agreement.
“The Permira Funds, in partnership with the Marcucci family, will support the new company unified into one organic growth through the internationalization of the existing portfolio and the acceleration of the development of new products; but they will also look for opportunities to growth by external lines, with the ultimate goal of becoming a diversified and specialized reality in rare diseases”, continues the note. FSI and CDP Equity will reinvest together with Permira and the Marcucci family, thus supporting the new development phase of the merged company.
Silvia Oteri, Partner and Global Head of Healthcare of Permira, said: “We are very happy to have closed this operation and now we look forward to collaborating with the Marcucci family, with Ugo and with the entire management team of Kedrion and Bpl to continue to develop the new unified company and thus serve a global market”
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Paul Marcucci, CEO of Kedrion, added: “The partnership with Permira has made possible a great step forward in the history of Kedrion, allowing us to create a global player in the plasma-derived sector capable of successfully competing in a growing market and characterized by new and constant challenges in the field of health”.
Hugh DiFrancesco, future CEO of Kedrion, commented: “I am very happy to collaborate with Permira on this exciting project aimed at uniting two leading players in the sector and creating a new global leader. Together, Kedrion and Bpl will be able to provide patients with the best care and responsibly involve donors: for this reason, I look forward to driving the company's growth starting next year".
