Thu 08/06/2020 10:36 AM
Relevant Document:
Press Release CVC

CVC Capital’s acquisition of a majority stake in Italian pharmaceutical company Genetic SpA was backed by a term loan of a bit more than €130 million, at about 3.3x and a margin of about Euribor + 450 basis points, sources familiar with the matter said. Continue reading for the EMEA Middle Market by Reorg team's analysis of this situation, and request access to continue following.

The investment group made the acquisition through the CVC Strategic Opportunities II fund alongside the family of the company founder Rocco Pavese, who will maintain his role as CEO, according to a press release.

Based in Fisciano, Italy, Genetic focuses on the research, development, manufacturing, licensing and promotion of pharmaceutical specialties and medical devices. In 2018, the company generated revenues of €42 million and an EBITDA of €12.8 million, Italian trade journal Be Beez reported.

CVC was advised by Rothschild, EY Parthenon, EY, BCG, Gattai Minoli Agostinelli & Partners and Facchini Rossi Michelutti, while Genetic was advised by UBS, EY, LED Taxand and NCTM.
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