Clessidra Capital Partners, Mandarin Capital Partners, Private Equity Partners and IDEA Capital have sold Euticals to Albany Molecular Research
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Prime European Therapeuticals S.p.A. (“Euticals” or the “Company”) has been sold to Albany Molecular Research Inc. (NASDAQ: AMRI; “AMRI”), a global contract research and manufacturing organization, with locations in North America, Europe and Asia, that is focused on discovery and development services (DDS), active pharmaceutical ingredients (API) and drug product manufacturing (DPM).
The transaction is valued at €315 million, consisting of shares of AMRI common stock, cash and a seller note. This valuation represents a premium 2015 EV / EBITDA multiple of about 11 times.
Euticals specializes in the custom synthesis and manufacturing of active pharmaceutical ingredients (APIs), with global scale production capabilities and diversified manufacturing plants across Italy, Germany, the U.S. and France, offering multiple technology platforms. Founded in 1984 and headquartered in Lodi, Italy, Euticals has approximately 840 employees and annual revenues of approximately €215 million. Euticals positions AMRI as one of the largest independent developers and suppliers of API to the pharmaceutical industry and significantly expands AMRI’s European footprint.
Enrico Ricotta, Managing Partner at Mandarin Capital Partners, and Marco Carotenuto, Partner at Clessidra Capital Partners, commented, “Lincoln generated excellent work quality and carefully managed every step of the process, helping us in structuring the deal, maximizing transaction value and navigating through intense negotiations to a successful close.”
Lincoln was retained by Euticals shareholders as exclusive financial advisor due to Lincoln’s Milan office’s longstanding relationship with majority investors Clessidra Capital Partners and Mandarin Capital Partners. Lincoln worked closely with the Company’s board of directors and management team throughout the entire sale process, from initial discussions, through two-way due-diligences, to a complex SPA negotiation. Lincoln also assumed an integral role in the definition of the financial aspects of the deal, resulting in an efficient and successful process completed in a few months.
Meet our Senior Team
I am passionate about this job and the beauty of succeeding in my country in supporting our clients to reach their goals.
Managing Director | CEO ItalyMilan
View More Transactions
Lincoln International is pleased to announce that it has advised The Vet Connection on its sale to Pets at Home Group PLC (LSE:PETS)
Lincoln International is pleased to announce that it has advised shareholders and management of Corndel, the UK's fastest growing leadership and digital skills training company, on its investment from THI Investments
Lincoln International is pleased to announce that Evans Capacitor Company has been sold to Arcline Investment Management
Lincoln International is pleased to announce that it has advised the shareholders of ASSEPRO, the leading independent Swiss insurance broker, on its sale to EMZ Partners