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H.I.G. Capital Announces the Sale of Deenova S.r.l.

Published

3 days ago

November 21, 2024

MILAN, Nov. 21, 2024 /PRNewswire/ — H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $66 billion of capital under management, is pleased to announce that an affiliate has signed a definitive agreement to sell its portfolio company, Deenova S.r.l. (“Deenova” or the “Company”), a leading Italian company in the field of traceability of drugs and medical devices in European hospitals. The Company is being purchased by Equiter Infrastructure II, a fund managed by Ersel Asset Management SGR, and Amundi Private Equity Italia (“APEI”), in partnership with Deenova’s founder Sergio Giglio. The close of the transaction is subject to customary, regulatory approvals.

Since 2004, Deenova has been providing value-add automation and traceability services for hospitals by designing, implementing, and operating automatic distribution and tracking systems for drugs and medical devices. Deenova is a long-term partner solution for hospitals, implementing fully integrated systems with hospital infrastructure, and guaranteeing significant benefits in terms of patient safety, cost savings, and process optimization.

Since its initial investment, H.I.G. has supported Deenova’s international growth through strategic acquisitions and the strengthening of its management team. The Company has become an industry leader throughout Europe, with a current presence in approximately 100 hospitals in Italy, France, United Kingdom, Malta, Germany, Spain, and Poland.

Raffaele Legnani, Managing Director and Head of H.I.G. in Italy, commented: “We are proud to have supported the growth strategy of Deenova, allowing the Company to become a European leader in the field of traceability and management of drugs and medical devices. We are also proud to have positioned Deenova for significant and continued future growth and for the return achieved by our investors on this deal.”

Giorgio Pavesi, CEO of Deenova, added: “The partnership with H.I.G. has been fundamental in accelerating Deenova’s international development through organic and inorganic growth initiatives. As a result, today the Company is a leader in the reference sector for the excellence of services offered to hospitals in Europe.”

About Deenova S.r.l.

Deenova has been active since 2004 in the provision of high value-added automation and traceability services for Italian hospitals, where it designs, implements and operates automatic distribution and tracking systems for drugs and medical devices. Deenova’s technological solutions are able to guarantee hospitals significant benefits in terms of patient safety, cost savings and process optimization. To date, Deenova’s systems are present in about 100 hospitals in Italy, France, United Kingdom, Malta, Germany, Spain and Poland. For more information, please refer to the Deenova website deenova.com.

About H.I.G. Capital

H.I.G. Capital is a leading global alternative investment firm with $66 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/ value-added approach:

H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Based on total capital raised by H.I.G. Capital and affiliates.