Recipharm completes acquisition of Corvette Pharmaceutical Services Group for SEK1.1 billion
The contract development and manufacturing organisation, Recipharm AB has completed the purchase of Milan based Corvette Pharmaceutical Services Group (Corvette) from Italian private equity group, LBO Italia Investmenti s.r.l.Highlights · Corvette had 2013 revenue and EBITDA of EUR 57.7 million (SEK 499 million) and EUR 15 million (SEK 130 million) respectively. · The combined entity enhances Recipharm’s scale and profitability. Based on 2013 proforma financials, the combined entity’s revenue and EBITDA would have been SEK 2.6 billion and SEK 408 million respectively. · The