Triton to sell Blitz LuxCo Sarl, the holding company of the Bormioli Pharma Group

Luxembourg, 23 May 2024 - Funds advised by Triton (“Triton”), alongside co-investors, have signed an agreement to sell Blitz LuxCo Sarl, the holding company of Bormioli Pharma Group (“Bormioli” or “the company”), a leading producer of pharmaceutical packaging, to Gerresheimer, an innovative systems and solutions provider and global partner for the pharma, biotech, and cosmetics industries. The transaction is subject to regulatory approvals and expected to close in the fourth quarter this year.

Bormioli was acquired by Triton in 2017 via a corporate carveout, having been identified as a future winner benefitting from increasing demand for sustainable packaging while providing drug stability and patient safety. The company has since been transformed into an important player in pharma packaging, present in over 100 countries, has approx. 1,500 employees with sales of over EUR 370 million.

Triton helped Bormioli to reach its potential by bolstering its management team; reshaping its organisational and operational structure; expanding and upgrading the company’s manufacturing base with state-of-the-art technology; establishing one of the first pharma packaging solutions based upon recycled materials; and integrating four strategic acquisitions that bolstered its product portfolio and geographical presence.

Moritz Gudenus, Investment Advisory Professional at Triton, said: “We would like to sincerely thank Bormioli’s entire team for their hard work and commitment in unlocking the company’s potential. Our investment in Bormioli is another example of Triton’s approach of backing future winners in our core sectors and applying our operational approach to helping them reach their full potential. We believe that Gerresheimer is a great strategic fit to continue Bormioli’s 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.”

BNP Paribas and Goldman Sachs International acted as M&A financial advisors.
 

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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.

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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 aluminium 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.

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About Gerresheimer

Gerresheimer is an innovative systems and solutions provider and a global partner for the pharma, biotech, and cosmetic 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, dropper bottles, other 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 €2bn in 2023. Gerresheimer AG is listed in the MDAX on the Frankfurt Stock Exchange (ISIN: DE000A0LD6E6).