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Ongoing Merger Clearance for deal between Bormioli Pharma and R&G

, Bormioli Pharma S.p.A.

Bormioli Pharma S.p.A. (“Bormioli Pharma”), a Triton Fund IV company announced that HIL-INVENT GmbH. (“HIL-INVENT”), as a majority shareholder, and a newly incorporated German vehicle wholly-owned by Bormioli Pharma (“Remus BidCo”) entered into a binding agreement for the acquisition of R&G Beteiligungs GmbH (“R&G”).

R&G is active in the business of plastic and glass primary packaging which are mainly used in the pharmaceutical industry. R&G employees approximately 270 people and operates through two plants in Schleusingen and Altenfeld (Germany). In the fiscal year 2018 R&G registered a turnover of Euro 25.6 m and an EBITDA equal to Euro 4.1 m (representing 16.0% margin).

Through this acquisition Bormioli Pharma reinforces its presence in the German and Northern European markets, expands its current product range with complementary products and strengthens its manufacturing footprint and industrial competences.

Closing of the transaction is planned for the fourth quarter of 2019 and is subject to the obtainment of the merger clearance by German competent authorities provided that no adverse circumstances which may materially affect R&G business and assets will occur in the meantime.

The acquisition will be financed through an acquisition financing extended by certain financial institutions to Bormioli Pharma S.p.A. and through the reinvestment by HIL-INVENT into Blitz LuxCo S.à.r.l., the sole shareholder of Bormioli Pharma, becoming a minority shareholder with a stake of 5.3%. Leverage Ratio pre-synergies, calculated as of 30th June 2019, will remain at 5.1x.

About Bormioli

Bormioli Pharma operates in close partnership with the pharmaceutical industry and with all the businesses that are engineering the future of healthcare. As a world-renowned player in the packaging industry, the company serves the pharmaceutical and biopharmaceutical market with integrated glass and plastic containers, closures, and packaging accessories using state-of-the-art materials and technologies. Each product is a unique combination of rigorous studies, cutting-edge technology, extreme testing, advanced industrial processes, and the finest materials. Bormioli Pharma has a global presence in 90 countries, with 900 employees and 5 plants in Europe specialized in the manufacturing of glass and plastic packaging for pharmaceutical, generics, and biotech companies, and CMOs. Every year the company produces 5 billion pieces with around 230 million euros in annual sales. As a partner to the pharmaceutical industry, Bormioli Pharma invests and innovates with one goal in mind: improving people’s lives.

For further information: www.bormiolipharma.com

 

Ongoing merger clearance started on 16.9.2019 under B3-145/19
Company:
Bormioli Pharma S.p.A., Mailand (Italien); purchase of shares and sole control in R & G Beteiligungs GmbH, Schleusingen (D);

Markets:
glass and plastic packaging for pharmaceutical industry

Company seat in :
Thüringen/Thuringia

, Bormioli Pharma S.p.A.

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