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23.05.2024 07:00:40 - dpa-AFX: EQS-News: Gerresheimer to acquire Blitz LuxCo Sarl, the holding company of the Bormioli Pharma Group - Strategic reset of Moulded Glass business (english)
Gerresheimer to acquire Blitz LuxCo Sarl, the holding company of the
Bormioli Pharma Group - Strategic reset of Moulded Glass business
EQS-News: Gerresheimer AG / Key word(s): Mergers & Acquisitions
Gerresheimer to acquire Blitz LuxCo Sarl, the holding company of the
Bormioli Pharma Group - Strategic reset of Moulded Glass business
23.05.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Gerresheimer to acquire Blitz LuxCo Sarl, the holding company of the
Bormioli Pharma Group - Strategic reset of Moulded Glass business
* Higher profitability and EPS accretion
Düsseldorf, May 23, 2024. Gerresheimer Glas GmbH, an indirect subsidiary of
Gerresheimer AG, has today signed a purchase agreement with funds advised by
Triton ("Triton") for the acquisition of Blitz LuxCo Sarl, the holding
company of the Bormioli Pharma Group ("Bormioli Pharma"). The purchase price
is based on a determined enterprise value of around EUR 800 million, which
corresponds to an adj. EBITDA multiple of around 10 Bormioli Pharma, has 9
production sites in Europe. The Group generates revenues of around EUR 370
million and an adj. EBITDA margin of around 21%. Bormioli Pharma has a
complementary portfolio of pharmaceutical primary packaging made of glass
and plastic, as well as closure solutions, accessories, and dispensing
systems. With this acquisition, Gerresheimer strengthens its European
footprint with additional production sites, especially in Southern Europe,
and underpins its market position as a leading full-service provider and
global partner for the pharmaceutical and biotech industries. The
acquisition is expected to be 50 to 100 basis points accretive to Adj.
EBITDA margin in the near term and more than 10% accretive to EPS from the
first year after closing. The transaction is subject to customary closing
conditions and approvals. Closing is expected in the fourth quarter of the
2024 financial year.
"With this transaction, we are putting an exclamation mark on our growth
ambitions," says Dietmar Siemssen, CEO of Gerresheimer AG. "Bormioli Pharma
is an ideal strategic fit for us and accelerates our transformation into an
integrated systems and solutions provider. In particular, we are expanding
our portfolio to include further high-value solutions. Both companies
complement each other both in terms of product portfolio and regional
coverage with production sites in Europe."
"Bormioli Pharma has been a Triton portfolio company since 2017. Since our
investment, the company has gone through a substantial transformation in
recent years with double-digit profitable growth," says Moritz Gudenus,
Investment Advisory Professional at Triton. "We are very pleased that we
have found a great partner for the company in Gerresheimer, who will
continue this success story."
Andrea Lodetti, CEO of Bormioli Pharma Group, adds: "With the support of
Triton, we were able to build out our positions across pharma packaging,
with one-stop-shop capabilities in terms of technology as well as product
offering. We thank the Triton team for their support and look forward to our
next chapter of growth with Gerresheimer."
Complementary, attractive product portfolio
Like Gerresheimer, Bormioli Pharma has achieved double-digit profitable
growth in recent years and counts leading pharmaceutical companies among its
customers. With around 1,500 employees the company generates revenues of
around EUR 370 million and an adj. EBITDA margin of around 21%. In addition,
the acquisition is expected to generate synergies of 3-5% of the company's
sales in the near and medium term. Bormioli Pharma manufactures
pharmaceutical primary packaging made of glass and plastic, as well as
closure solutions, accessories and dosing systems. In the plastics sector,
Bormioli Pharma is one of the leading suppliers of pharmaceutical plastic
systems and solutions with five production sites in Italy, France and
Germany. In the glass sector, Bormioli Pharma has an attractive portfolio
for parenteral and other pharmaceutical primary packaging with four
production sites in Italy and Germany.
Transaction supports transformation into a system and solution provider
At the same time, the acquisition of Bormioli Pharma accelerates
Gerresheimer's further transformation into a system and solutions provider
as part of the formula g corporate strategy. In the future, Gerresheimer
will be able to offer more integrated solutions consisting of primary
packaging and matching closure options and will become one of the leading
full-service providers for the pharmaceutical and biotech industries.
Strategic reset of Moulded Glass business
Following the integration, the acquisition will create a new, strong Moulded
Glass business unit, with new options for a strategic reset for best growth
prospects and competitiveness. The combined molded glass business would
generate pro forma sales of around EUR 750 million in 2024 with an EBITDA
margin of around 21% before synergies.
Strong commitment to innovation and sustainability
Gerresheimer and Bormioli Pharma share a strong commitment to innovation and
sustainability. Both have implemented structured innovation processes in the
company, to develop for example particularly user-friendly, barrier-free and
secure systems and solutions or smart connected primary packaging. At the
same time, both companies have set ambitious goals in the area of
sustainability and are working together with customers on more
environmentally friendly primary packaging solutions, among other things.
Financing of the transaction through a banking syndicate
The purchase price will be financed by a bridge loan from a banking
syndicate consisting of UniCredit, Commerzbank and LBBW.
Conference Call
Gerresheimer will hold a conference call on the transaction on May 23, 2024,
09:00 am CEST. For more information, see
https://www.gerresheimer.com/en/company/investor-relations/presentations
About Triton
Founded in 1997 and owned by its partners, Triton is a leading European
mid-market sector-specialist investor. Triton focuses on investing in
businesses that provide mission critical goods and services in its three
core sectors of Business Services, Industrial Tech, and Healthcare.
Triton has over 200 investment professionals across 11 offices and invests
through three complementary "All Weather" strategies: Mid-Market Private
Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.
www.triton-partners.com
About Bormioli Pharma
Bormioli Pharma works closely with the pharmaceutical industry and all
companies that are working towards the future of healthcare globally. As a
world-renowned player in the packaging industry, the company serves the
pharmaceutical and biopharmaceutical markets with complete solutions,
including glass and plastic bottles, plastic and aluminum closures and
accessories. Bormioli Pharma's wide product ranges are designed and
manufactured with a focus on innovation and addressing ever-growing
sustainability issues. Moreover, each product is specifically conceived for
the destination market thanks to an accurate portfolio segmentation.
Bormioli Pharma has a global presence in over 100 countries, with around
1,500 employees and 9 plants across Europe specialized in the production of
glass and plastic packaging. In 2023, the company sold more than 8 billion
pieces. As a partner to the pharmaceutical industry, Bormioli Pharma invests
and innovates with a single goal: making health a positive practice,
available to everyone, kind to the planet.
www.bormiolipharma.com/en
About Gerresheimer
Gerresheimer is an innovative systems and solutions provider and a global
partner to the pharma, biotech, and cosmetics industries. The company offers
a comprehensive portfolio of pharmaceutical containment solutions, drug
delivery systems and medical devices as well as solutions for the health
industry. The product range includes digital solutions for therapy support,
medication pumps, syringes, pens, auto-injectors and inhalers as well as
vials, ampoules, tablet containers, infusion, dropper and syrup bottles, and
more. Gerresheimer ensures the safe delivery and reliable administration of
drugs to the patient. With 35 production sites in 16 countries in Europe,
America and Asia, Gerresheimer has a global presence and produces locally
for regional markets. With around 12,000 employees, the company generated
revenues of around EUR2bn in 2023. Gerresheimer AG is listed in the MDAX on
the Frankfurt Stock Exchange (ISIN: DE000A0LD6E6).
www.gerresheimer.com
Contact Gerresheimer AG
1. mailto:gerresheimer.ir@gerresheimer.com
---------------------------------------------------------------------------
23.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1909211 23.05.2024 CET/CEST
Bormioli Pharma Group - Strategic reset of Moulded Glass business
EQS-News: Gerresheimer AG / Key word(s): Mergers & Acquisitions
Gerresheimer to acquire Blitz LuxCo Sarl, the holding company of the
Bormioli Pharma Group - Strategic reset of Moulded Glass business
23.05.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Gerresheimer to acquire Blitz LuxCo Sarl, the holding company of the
Bormioli Pharma Group - Strategic reset of Moulded Glass business
* Strategic acquisition: Complementary product portfolio and broad
footprint with production sites in Europe
* Gerresheimer underpins leading market position as a full-service
provider for the pharmaceutical and biotech industries
* Higher profitability and EPS accretion
Düsseldorf, May 23, 2024. Gerresheimer Glas GmbH, an indirect subsidiary of
Gerresheimer AG, has today signed a purchase agreement with funds advised by
Triton ("Triton") for the acquisition of Blitz LuxCo Sarl, the holding
company of the Bormioli Pharma Group ("Bormioli Pharma"). The purchase price
is based on a determined enterprise value of around EUR 800 million, which
corresponds to an adj. EBITDA multiple of around 10 Bormioli Pharma, has 9
production sites in Europe. The Group generates revenues of around EUR 370
million and an adj. EBITDA margin of around 21%. Bormioli Pharma has a
complementary portfolio of pharmaceutical primary packaging made of glass
and plastic, as well as closure solutions, accessories, and dispensing
systems. With this acquisition, Gerresheimer strengthens its European
footprint with additional production sites, especially in Southern Europe,
and underpins its market position as a leading full-service provider and
global partner for the pharmaceutical and biotech industries. The
acquisition is expected to be 50 to 100 basis points accretive to Adj.
EBITDA margin in the near term and more than 10% accretive to EPS from the
first year after closing. The transaction is subject to customary closing
conditions and approvals. Closing is expected in the fourth quarter of the
2024 financial year.
"With this transaction, we are putting an exclamation mark on our growth
ambitions," says Dietmar Siemssen, CEO of Gerresheimer AG. "Bormioli Pharma
is an ideal strategic fit for us and accelerates our transformation into an
integrated systems and solutions provider. In particular, we are expanding
our portfolio to include further high-value solutions. Both companies
complement each other both in terms of product portfolio and regional
coverage with production sites in Europe."
"Bormioli Pharma has been a Triton portfolio company since 2017. Since our
investment, the company has gone through a substantial transformation in
recent years with double-digit profitable growth," says Moritz Gudenus,
Investment Advisory Professional at Triton. "We are very pleased that we
have found a great partner for the company in Gerresheimer, who will
continue this success story."
Andrea Lodetti, CEO of Bormioli Pharma Group, adds: "With the support of
Triton, we were able to build out our positions across pharma packaging,
with one-stop-shop capabilities in terms of technology as well as product
offering. We thank the Triton team for their support and look forward to our
next chapter of growth with Gerresheimer."
Complementary, attractive product portfolio
Like Gerresheimer, Bormioli Pharma has achieved double-digit profitable
growth in recent years and counts leading pharmaceutical companies among its
customers. With around 1,500 employees the company generates revenues of
around EUR 370 million and an adj. EBITDA margin of around 21%. In addition,
the acquisition is expected to generate synergies of 3-5% of the company's
sales in the near and medium term. Bormioli Pharma manufactures
pharmaceutical primary packaging made of glass and plastic, as well as
closure solutions, accessories and dosing systems. In the plastics sector,
Bormioli Pharma is one of the leading suppliers of pharmaceutical plastic
systems and solutions with five production sites in Italy, France and
Germany. In the glass sector, Bormioli Pharma has an attractive portfolio
for parenteral and other pharmaceutical primary packaging with four
production sites in Italy and Germany.
Transaction supports transformation into a system and solution provider
At the same time, the acquisition of Bormioli Pharma accelerates
Gerresheimer's further transformation into a system and solutions provider
as part of the formula g corporate strategy. In the future, Gerresheimer
will be able to offer more integrated solutions consisting of primary
packaging and matching closure options and will become one of the leading
full-service providers for the pharmaceutical and biotech industries.
Strategic reset of Moulded Glass business
Following the integration, the acquisition will create a new, strong Moulded
Glass business unit, with new options for a strategic reset for best growth
prospects and competitiveness. The combined molded glass business would
generate pro forma sales of around EUR 750 million in 2024 with an EBITDA
margin of around 21% before synergies.
Strong commitment to innovation and sustainability
Gerresheimer and Bormioli Pharma share a strong commitment to innovation and
sustainability. Both have implemented structured innovation processes in the
company, to develop for example particularly user-friendly, barrier-free and
secure systems and solutions or smart connected primary packaging. At the
same time, both companies have set ambitious goals in the area of
sustainability and are working together with customers on more
environmentally friendly primary packaging solutions, among other things.
Financing of the transaction through a banking syndicate
The purchase price will be financed by a bridge loan from a banking
syndicate consisting of UniCredit, Commerzbank and LBBW.
Conference Call
Gerresheimer will hold a conference call on the transaction on May 23, 2024,
09:00 am CEST. For more information, see
https://www.gerresheimer.com/en/company/investor-relations/presentations
About Triton
Founded in 1997 and owned by its partners, Triton is a leading European
mid-market sector-specialist investor. Triton focuses on investing in
businesses that provide mission critical goods and services in its three
core sectors of Business Services, Industrial Tech, and Healthcare.
Triton has over 200 investment professionals across 11 offices and invests
through three complementary "All Weather" strategies: Mid-Market Private
Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.
www.triton-partners.com
About Bormioli Pharma
Bormioli Pharma works closely with the pharmaceutical industry and all
companies that are working towards the future of healthcare globally. As a
world-renowned player in the packaging industry, the company serves the
pharmaceutical and biopharmaceutical markets with complete solutions,
including glass and plastic bottles, plastic and aluminum closures and
accessories. Bormioli Pharma's wide product ranges are designed and
manufactured with a focus on innovation and addressing ever-growing
sustainability issues. Moreover, each product is specifically conceived for
the destination market thanks to an accurate portfolio segmentation.
Bormioli Pharma has a global presence in over 100 countries, with around
1,500 employees and 9 plants across Europe specialized in the production of
glass and plastic packaging. In 2023, the company sold more than 8 billion
pieces. As a partner to the pharmaceutical industry, Bormioli Pharma invests
and innovates with a single goal: making health a positive practice,
available to everyone, kind to the planet.
www.bormiolipharma.com/en
About Gerresheimer
Gerresheimer is an innovative systems and solutions provider and a global
partner to the pharma, biotech, and cosmetics industries. The company offers
a comprehensive portfolio of pharmaceutical containment solutions, drug
delivery systems and medical devices as well as solutions for the health
industry. The product range includes digital solutions for therapy support,
medication pumps, syringes, pens, auto-injectors and inhalers as well as
vials, ampoules, tablet containers, infusion, dropper and syrup bottles, and
more. Gerresheimer ensures the safe delivery and reliable administration of
drugs to the patient. With 35 production sites in 16 countries in Europe,
America and Asia, Gerresheimer has a global presence and produces locally
for regional markets. With around 12,000 employees, the company generated
revenues of around EUR2bn in 2023. Gerresheimer AG is listed in the MDAX on
the Frankfurt Stock Exchange (ISIN: DE000A0LD6E6).
www.gerresheimer.com
Contact Gerresheimer AG
Media
Jutta Lorberg
Head of Corporate Communication
T +49 211 6181 264
(1)jutta.lorberg@gerresheimer.com
1. mailto:jutta.lorberg@gerresheimer.com
Investor Relations
Guido Pickert
Vice President Investor Relations
T +49 152 900 14145
(1)gerresheimer.ir@gerresheimer.com
1. mailto:gerresheimer.ir@gerresheimer.com
---------------------------------------------------------------------------
23.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
Language: English
Company: Gerresheimer AG
Klaus-Bungert-Str. 4
40468 Duesseldorf
Germany
Phone: +49-(0)211/61 81-00
Fax: +49-(0)211/61 81-121
E-mail: gerresheimer.ir@gerresheimer.com
Internet: http://www.gerresheimer.com
ISIN: DE000A0LD6E6
WKN: A0LD6E
Indices: MDAX (Aktie)
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1909211
End of News EQS News Service
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1909211 23.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
GERRESHEIMER AG | A0LD6E | Frankfurt | 100,200 | 14.06.24 17:11:48 | -5,700 | -5,38% | 0,000 | 0,000 | 103,700 | 100,200 |
