Trilantic Capital Partners Europe takes 90% stake in Doppel Farmaceutici
With the management team aims to expand the CDMO in the US and Far East and make further acquisitions
Private equity firm Trilantic Capital Partners Europe has completed the acquisition of a 90% shareholding in Italian firm Doppel Farmaceutici, after obtaining anti-trust approvals.
Milan-based Doppel is Contract Development and Manufacturing Organisation (CDMO) that provides pharmaceutical research, development, formulation, manufacturing and packaging.
Financial details of the investment have not been disclosed.
Trilantic Europe acquired the shareholding from a number of Italian entrepreneurs, including Pierluigi Busca who has been a shareholder in Doppel since it was established in 1994. Managing Director Paolo Lanfranchi holds the remaining 10% of the company and following completion has stepped up to the position of Chairman. Giuseppe Cassisi, who has 30 years’ experience in the pharmaceuticals and CDMO sector, has become the company's Chief Executive.
Trilantic Europe and Doppel’s management team aim to expand the company both organically and use it as a platform to acquire other players in the CDMO sector.
According to Trilantic, this will include increasing Doppel’s presence in international markets, such as the US 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.
Doppel employs 460 people and operates from two production plants in Cortemaggiore and Rozzano in Northern Italy.
The company's main business is manufacturing and packaging pills, pharmaceutical granules, creams, tablets, oral solutions, sprays and injection vials, produced under aseptic conditions or with terminal sterilisation.
In 2009, the company launched a nutrition division at the Cortemaggiore plant, dedicated to the contract manufacturing and packaging of effervescent granules.
Since 2003, Doppel 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 2014, Doppel had net revenue of €83.4m and EBITDA of €12.3m. The Italian market accounted for 63% of turnover with the remaining 37% coming from international markets.
