Ardian reinvests in Italian pharma business Neopharmed, NB Renaissance joins as investor

Global investment giant Ardian has reinvested in Italian pharmaceutical commercialisation business Neopharmed.

The deal comes four years after Ardian picked up a stake in the business, which was then the therapeutics unit of Italian drugmaker Mediolanum Farmaceutici.

Ardian and NB Renaissance will jointly holding a majority stake in Neopharmed, with equal shares, while Mediolanum Farmaceutici will maintain a significant stake, the firm said.

Neopharmed’s buy-and-build strategy since Ardian’s investments has seen it bolt-on six businesses, and reach revenues of €250m.

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The company recorded sales of €192m in 2017, the year before Ardian’s buyout.

Ardian Italy head Nicolo Saidelli said, “As a result of our partnership, the company has achieved brilliant results over the past four years, and we are convinced there are numerous continued growth opportunities in Italy and abroad.

“We believe that this partnership with NB Renaissance will facilitate further consolidation and international development, while safeguarding the current corporate culture.”

Last month Ardian and FiveT Hydrogen raised €2bn for the world’s biggest clean hydrogen investment fund.

Joint venture Hy24 had been hoping to raise €1.5bn for the fun, but soared past that total thanks to investors including anchor backers Air Liquide, VINCI Concessions, TotalEnergies, Plug Power, Chart Industries and Baker Hughes.

Source: AltAssets

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