SILVER ECONOMY FUND INVESTS IN SIARE INTERNATIONAL ENGINEERING
The Private Equity fund managed by Quadrivio Group enters the “Medical Devices” sector
Agreement signed for the acquisition of the company specialised in the design and production of electromedical equipment for anaesthesia and resuscitation
Silver Economy Fund, Quadrivio Group’s Private Equity fund that invests in companies offering goods and services dedicated to the Silver Age and Longevity world, today signed an agreement to acquire a majority stake in SIARE INTERNATIONAL ENGINEERING S.r.l., a company specialised in the design and production of electromedical equipment for anaesthesia and resuscitation; as well as accessories for the assistance and control of pulmonary ventilation.
SIARE was founded in 1974 in Crespellano-Valsamoggia, in the province of Bologna. Nowadays, the company is one of the main Italian operators in the “Medical Devices” sector for intensive care and is distinguished by its hardware and software development capacity, as well as the speed and flexibility of its production system. The highly innovative equipment is used in operating theatres, intensive care units, hyperbaric chambers, as well as in advanced home care and emergency services (ambulances and helicopter rescue).
The company now boasts a strong international presence and, thanks to an extensive network of distributors, covers 85 countries. It also relies on an in-house R&D team dedicated to product and software design and development. Currently, 80% of revenues are generated abroad.
Silver Economy Fund’s investment is intended to contribute to the consolidation of the entire sector, in Italy and abroad. The development strategy includes enhancing the management team, growth and consolidation, pursued through international acquisitions and the strengthening of distribution channels.
Founder Giuseppe Preziosa - a leading expert in the fields of anaesthesia, resuscitation and intensive care - will remain within SIARE in the role of President and will in turn reinvest in the company; current General Manager Paolo Suzzani will be appointed Managing Director of the company. Both will be committed to supporting the development plan agreed with the Fund.
Galeazzo Scarampi, Managing Partner of Silver Economy Fund, had the following comments on the operation: “We believe that a company like SIARE best identifies the mission of Silver Economy Fund, whose focus also includes advanced assistance. Thanks to the skills of our team and SIARE’s software and hardware know-how, we will be able to rapidly scale up the business organically and invest in the commercial network, including through the acquisition of complementary companies.”
Giuseppe Preziosa, SIARE President, was also satisfied, adding: “I am very enthusiastic to have achieved this important result, which represents a fundamental step in SIARE’s growth path; I am also very proud to begin this partnership with an investor of primary standing such as Quadrivio Group, which has shown its full understanding of our business model, our proprietary technology and above all our growth potential.”
SIARE was assisted by Credit Agricole Italia as Advisor M&A and for legal and tax aspects by Russo De Rosa Associati. Silver Economy Fund was assisted by PWC for financial due diligence and by LSC - Lifescience Consultants for business due diligence. Legal aspects were followed by King & Wood Mallesons; tax aspects by Legance.
The transaction is subject to authorisation by the relevant authorities.