Charme Capital Partners to acquire Igenomix
- Igenomix is one of the world’s leading biotechnology companies focused on reproductive genetic testing
- Charme Capital Partners’ investment will help accelerate Igenomix’s internationalisation, expand the company’s world-leading R&D functions, and broaden the scope of its genetic testing services
- Investment is the first made by Charme III, a pan-European mid-market buyout fund
Madrid/London/Milan, 19 July 2016: Charme Capital Partners (“CCP”), the pan-European mid-market private equity firm, has announced that Charme III has reached an agreement to acquire a majority stake in Igenomix, the leading provider of genetic testing services for reproductive health patients and clinics. Terms of the transaction were not disclosed. The transaction is subject to regulatory approvals and is expected to close in the coming weeks.
Igenomix was spun out from one of the world’s largest and most successful in-vitro fertilisation (IVF) clinics, the Instituto Valenciano de Infertilidad (IVI), in 2011 and offers pioneering genetic testing services in reproductive medicine. It works closely with IVF clinics around the world to help increase the chances of successful pregnancies and aid medical professionals in delivering healthier babies.
Headquartered in Spain, Igenomix employs over 100 people across eight advanced specialist laboratories worldwide, in Spain (Valencia), USA (New York, Miami, and Los Angeles), India (New Delhi), Brazil (Sao Paulo), UAE (Dubai) and Mexico (Mexico City).
Igenomix will retain its existing management team led by David Jimenez as CEO and Dr. Carlos Simon as CSO, who will reinvest in the deal. CCP’s investment will enable the company to accelerate its internationalisation across developed and developing markets, as these mature and adopt genetic testing as a way of improving pregnancy rates; expand its world-leading R&D capabilities that aim to introduce breakthrough innovations in genetics in reproductive medicine; and support the broadening of its scope of genetic testing services.
The investment in Igenomix is the first made by Charme III, and the first from CCP’s recently opened office in Madrid.
Francisco Churtichaga and Tommaso Beolchini, Partners at Charme Capital Partners, commented:
“Igenomix is enjoying accelerated growth exceeding 50% per annum and will approach €30m sales in 2016, so it represented a great opportunity to invest in a leading national champion and contribute to its global expansion. We look forward to working with the company, with its world-class management team and unique proprietary know-how, to help deliver on its excellent growth potential in new markets such as China and Russia, among others.”
Carlos Simón, Chief Science Officer of Igenomix, said:
“Today, Igenomix is the leading research-driven genetic testing company focused in IVF. Charme will bring to us their network, strategic vision and resources to further expand our R&D program and international presence.”
Andrew Honnor, Alex Jones, Carl Leijonhufvud
+44 (0)207 952 2000
Igenomix was created in 2011 when it was spun out from Instituto Valenciano de Infertilidad (IVI). Today it is one of the world’s leading providers of advanced services in reproductive genetics, operating from eight laboratories worldwide. Its constant efforts in R&D, led by Prof. Dr. Carlos Simón (the 2011 Jaime I award-winner for Clinical Research), enable Igenomix to create and develop specific tools to support professionals in the reproductive medicine field. Specialist services offered include PGS (Pre-Implantation Genetic Screening), NACE (Non-invasive Prenatal Test); CGT (Carrier Genetic Test); PGD (Preimplantation Genetic Diagnosis) and ERA (Endometrial Receptivity Array).
About Charme Capital Partners
Charme Capital Partners is based in London, Milan and Madrid, and is the manager of the Charme Funds, founded in 2003 by Luca and Matteo di Montezemolo and backed by a unique combination of institutional LPs and prominent global industrialists. Since inception, the Charme Funds have raised over €1bn and invested with a pan-European approach in companies with strong growth and internationalisation prospects.
Charme III was launched in 2015 with a pan-European investment strategy focused on mid-market investments across a range of business sectors in Europe, with a particular focus on UK, Spain and Italy. It targets fast growing mid-market companies with an enterprise value of €100mn to €500mn, where it can partner with shareholders and management teams to unlock potential and deliver transformational growth, both organically and through M&A. This will allow companies to reinforce their market positioning and in many cases to expand internationally.
The main investments of the Charme Funds include in luxury goods Poltrona Frau Group (global leader in high-end design furniture) in technology Octo Telematics (world leader in insurance telematics) and in healthcare Bellco (leading provider of blood purification devices).