Investitori Associati SGR, the common fund management company for closed-end security investment, is investing in the plasmaderivatives sector with a 40% share in Kedrion SpA, the leading company in Italy in this area. It belongs to the Marcucci family who will retain the majority holding with 60% of the shares.
The operation, financed by Banca Intesa, has been set up following advisory studies carried out by Bank of America and MITfin which registered interest also from investment funds and companies within the sector. The Board, appointed concurrently with the signing of the agreement, sees Paolo Marcucci confirmed at the helm of the Company, covering the dual responsibilities of Chairman and Managing Director. Also confirmed onto the Board are Rodolfo De Dominicis, Remo Grassi and Luciano Ragghianti. New members are Andrea Gianola, Paolo Melloni and Stefano Miccinelli of Investitori Associati.
“We believe there is the potential to increase the investment value”, Paolo Melloni affirms. “Kedrion, is, in fact, a company with an optimal position in the Italian market which will be consolidated and reinforced; it has safety, quality and technology standards in line with the highest international standards. Alongside its commitment to developing countries, Kedrion will also pay close attention to the Western market. The possibility of Kedrion buying foreign companies in the same sector will also be investigated”.
Kedrion is present in over 30 countries, and is in 6th place in the world for volume of fractionated plasma and 7th for sales. The company’s turnover has increased from 125 million euros in 2003 to over 155 million euros forecast for 2006.
“The global market in plasmaderivatives, a niche market in the pharmaceutical sector”, Melloni notes, “is registering an interesting growth trend in terms of both production and value, and the number of countries recognising, authorising and regulating the use of such products is increasing”.
Paolo Marcucci adds, “We are setting ourselves the target of operating at a higher level of competitiveness. This is the challenge set us by the sector within which we work, a sector with a high level of innovation and a group of competitors of international standing. This is the challenge which our company, from management down, has taken on, is currently dealing with and which it is capable of winning. This operation of accessing capital means that Kedrion will acquire mature financial know-how and organise itself so as to consolidate and improve its performance in different ways. Maintaining the brand and confirming both Board and Management and each single employee, are an intrinsic recognition of the strengths of Kedrion’s experience”.
Marcucci concludes by saying, “Also confirmed is Kedrion’s development plan, including investment in consolidating and enlarging its two factories in Italy. In particular, our commitment will be directed at foreign markets both at business and industrial levels”.