Goal growth and expansion of HMC Group’s markets and products
Fifth stake in Credem Private Equity’s fund portfolio, with a total initial allocation of over €200 million
Total investment of over €10 million.
Credem Private Equity SGR completes the fifth transaction of its funds under management, investing in HMC Premedical S.p.A. This is the continuation of the path started in the early 2000s in the management of real economy investments, three months after the investment in Contri Spumanti and after the BrandOn, Vista Vision and Regas dealings.
HMC Premedical is based in the well-known biomedical district of Mirandola (Modena). Owned by the Bisi family, it has been producing and selling medical components and devices for 25 years worldwide, under its own brand (CE) and as original equipment manufacturer (OEM)
Credem Private Equity SGR, a company led by CEOs Maurizio Esposito and Daniele Molinaro, is making its fifthinvestment with its funds, which have a total initial allocation of over €200 million.
“With an investment of more than €10 million for a significant minority stake”, said Maurizio Esposito, CEO of Credem Private Equity, “we have a twofold objective: to provide HMC Group with the financial resources and complementary skills to support and accelerate growth through targeted acquisitions, in companies operating in the biomedical sector or in sectors that are related and synergistic to the Group’s core business”.
Founded at the end of the 1990s by Giuseppe Bisi, HMC Group has experienced significant growth, thanks to several acquisitions of other companies including the English Group Medicina Ltd in 2017, which have strengthened its production capacity and completed its commercial offer by also opening up to the enteral device sector. In addition, HMC Group, which has just completed the expansion of its production and logistics facilities, has stakes in other companies, in the UK, Israel and Serbia.
“We are extremely pleased to open our capital to such an important fund”, says Giuseppe Bisi, founder of HMC Group. “This dealing is the result of a decision developed a few years ago, when the Bisi family decided not to sell its majority shareholding and to continue leading the Group”. “Thus, we have projected ourselves”, continues his son Andrea Bisi, CEO of HMC Group, “towards a new challenging project of growth and consolidation that will see us committed both to endogenous development and through targeted acquisitions. We will work together to develop this project in line with our values and our mission: we help health”
The HMC Group aims to close 2022 with a turnover close to 40 million euros and an EBITDA of over 6 million euros. The Group generates 60% of its turnover abroad, has 4,000 square metres of clean room space and is able to manage all phases of product development and industrialisation in-house. Production strength, process knowledge and a large network make the HMC Group an extremely valuable partner for its customers: the health service and the biomedical and pharmaceutical industries.
“This is a dealing I am particularly proud of”, added Paolo Magnani, coordinator of Credem Group’s wealth management area, “concluded in one of the industrial districts synonymous with Italian excellence on the international scene and, more in general, for the benefit of the country’s economic development, which is Credem Group’s main goal. In this regard, Credem Group, through Credem Private Equity SGR, is strongly investing in Italian SMEs”.
Credem Private Equity SGR is Credem Group’s asset management company focused on the management of private equity funds and private market investments. After having concluded the management of Credem Venture Capital I fund with excellent returns for subscribers, Credem Private Equity SGR has become Credem Group’s reference point for the management of 3 new private equity funds (Elite, Credem Venture Capital II and Eltifplus), which have raised a total of over €200 million.
Credem Private Equity SGR was assisted by Andrea Giardino and Giuseppe Toia (Gatti Pavesi Bianchi Ludovici law firm) for legal aspects, by Christian Montinari (DLA Piper law firm) for tax issues, and by PGS law firm for accounting aspects. The Business Due Diligence was carried out by The European House – Ambrosetti. The Corporate Finance Advisory team of Banca Euromobiliare, headed by Simone Citterio, acted as exclusive financial advisor to the SGR. HMC was assisted by Studio MBL PRO from Modena (with a team led by the partner responsible for the dealing, Matteo Luppi) as Legal and Financial Advisor to the company, which had also assisted it in previous dealings.