Private equity firm Trilantic Capital Partners Europe has completed the acquisition of a 90% shareholding in Doppel Farmaceutici, an Italian leader in pharmaceutical research, development, formulation, manufacturing and packaging.
The financial terms of the investment have not been disclosed. Trilantic Europe acquired the 90% shareholding in the company from a number of Italian entrepreneurs, including Pierluigi Busca who has been a shareholder 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 aim to expand Doppel both organically and as a platform to acquire other players in the CDMO sector. The strategy includes plans to increase the company’s presence in international markets, such as the United States and the Far East, strengthening its offer in research and development, strategic growth through the acquisition of niche capabilities such as injectable biotechnology medicines, and the development of greenfield projects.
Founded in 1994, Doppel operates exclusively on behalf of third parties as a Contract Development and Manufacturing Organization (CDMO) with contracts with blue-chip Italian and international clients. It manufactures and packs pharmaceutical products such as pills, pharmaceutical granules, creams, tablets, oral solutions, sprays and injection vials, produced under asepsis conditions or with terminal sterilisation.
Since 2003, the company has also been active in food, nutraceutical and cosmetic supplements as well as medical devices thanks to its 24.7% shareholding in Procemsa Farmaceutici.
In 2009, Doppel launched a nutrition division at the Cortemaggiore plant, dedicated to the contract manufacturing and packaging of effervescent granules. It currently has 460 employees operating from production plants in Cortemaggiore and Rozzano.
In 2014, the company had net revenue of €83.4m and EBITDA of €12.3m.