Silver Economy Fund buys Biotec Italia

The Quadrivio Group private equity fund takes over the leading Italian producer of technological devices for aesthetic medicine

Silver Economy Fund today acquired a majority stake in Biotec Italia, a leader in the development, manufacture and sales of technological devices for the aesthetic medicine sector.

Shares in the enterprise were bought from its three partners Fulvio Antonio Ferrari (founder and current CEO), Francesco Piovan and Franco Veneziale (both managing partners), who will all still hold a stake in the company and will remain at its helm, sharing its strategies and goals with the fund.

Biotec Italia stands as a fifth investment for Silver Economy Fund, the Quadrivio Group private equity vehicle that invests in enterprises providing services and products for the Silver Age. The fund has already bought: Siare a firm specialized in electro-medical equipment for anaesthesia and resuscitation; The Private Clinic, a group of UK-based clinics providing cosmetic and skin treatments and surgeries; CareHub, a network of outpatient clinics and diagnostic services; and MIR, a global leader in the spirometry sector.

The company is headquartered in Dueville, in the Italian province of Vicenza. Founded in 1993, it offers innovative solutions in the cosmetic medicine field, focusing on non-invasive technologies with proven clinical efficacy for use in the aesthetic enhancement of face and body. Biotec Italia is a pioneer in the development of energy-based devises (EBD), with cutting-edge technologies, some of which have been patented. These include: laser sources with different wavelengths, ultrasound, microwave, plasma energy, focused electromagnetic waves, and cold therapy systems ‒ all designed to meet the needs of the cosmetic medical sector. To date, Biotec Italia has sold over 30,000 devices to aesthetic doctors and specialized clinics. The application categories for the devices produced are made up as follows: skin & face, body contouring, hair removal, tattoo removal and skin resurfacing.

Biotech Italia distributes its products in over 60 countries. Italy stands as its markets of reference; accounting for 53% of the devices sold; following this are EMEA countries and the APAC area. The domestic channel is structured with direct sales, while distribution abroad is through intermediaries. Key markets include: Poland, Brazil, France, Hong Kong, Germany, United Kingdom, Czech Republic, China and Greece.

The cosmetic medicine sector has shown significant growth in recent years, also attracting younger patients and increasingly opening up to the male realm. This is confirmed by Biotec Italia's results for 2024, as it closed the year on a turnover of €18 million. Factors driving this growth include a broad product range and complementarity: besides medical devices, the company also offers a range of beauty products, which today makes up 15% of its total sales.

The presence of an in-house R&D team to focus on conceiving and designing products further contributes to the success of this company, with 100% of its products made in Italy. Its ISO 13485-compliant production system also enables the real-time measuring of all its processes: from prototyping to manufacturing. In addition, Biotec Italia places great attention on customer care and after-sales services.

Through this investment, Quadrivio Group intends to support the company during its growth and development process, consolidating its presence on its existing markets, stimulating development and opening up to new, relatively unexplored segments in aesthetic medicine.

Stefano Malagoli, Partner at Silver Economy Fund, commented: “Biotec Italia is an example of Italian excellence in organizational and technological terms, with a strong managerial leadership. I'm impressed by the quality of the professional environment and people that we've found at Biotec Italia. It's great to be able to see how these can be effectively combined for robust financial growth and a healthy work environment. It's what modern organizational theory has been proclaiming for some time: more 'humanity' in business. This notion has been put into practice at Biotec Italia. We're honoured to be able to contribute to the development of this enterprise, and its acquisition marks a further step forward in building the Silver Economy Fund portfolio.”

Wael Ballouk, Investment Manager at Silver Economy Fund, added: "We're looking forward to supporting Biotec Italia during its next stage of growth, capitalizing on its innovative spirit, excellent managerial team and strong international presence. Our goals are to develop the company at the international level and to make it even more competitive, generating value for all the stakeholders involved."

Also pleased with the transaction is Fulvio Antonio Ferrari, founder and CEO of Biotec Italia, who stated: "We feel enthusiastic about this strategic partnership with Quadrivio Group, which opens a new chapter for Biotec Italia. This agreement will enable us to accelerate international growth, strengthen research and development, and bolster our leadership in the medical and cosmetic technologies sector. Thanks to this alliance, we can continue innovating, drawing on our team's talent and generating even more striking results for clients and partners. The future is promising and we're ready for new challenges."

Silver Economy Fund was assisted by PwC for Financial Due Diligence; by Kearney for Commercial Due Diligence. The tax due diligence and structuring aspects of the transaction were handled by Russo De Rosa Associati with a team comprising Leo De Rosa, Alessandro Manias and Mattia Cardinali. The legal aspects of the transaction were handled by Chiomenti, with a team comprising Salvo Arena, Filippo Corsini, Michelangelo Granato, Matteo Festa and Andrea Masut.

The seller, Biotec Italia, was assisted by Studio Savio and Studio Zattera for tax aspects. The legal aspects of the transaction were handled by Galbiati Sacchi Lamandini e Associati. The team in charge of the operation consists of Carla Cannavacciuolo, Gerolamo Treccani, Luca Galli and Maria Francesca Pagliari.

The Notary Alessandra Radaelli of Studio Ricci e Radaelli handled all notarial activities related to the deal.

Banco BPM financed the transaction.