Charme Capital Partners Announces The Sale Of Bellco To Medtronic
- Medtronic, founded in 1949 and among the world’s largest med-tech companies with a market cap in excess of USD 105 Billion, acquired Bellco from Charme Capital Partners and its minority co-investors (Amadeus Capital Partners and Capital Dynamics)
- Charme Capital Partners has successfully completed the disposal of all the portfolio companies in Charme II and is now fully focused on investing Charme III
London/Milan – February 1, 2016. Charme Capital Partners, manager of the pan-European Charme Funds, today announced the execution of a definitive agreement for the sale of 100% of Bellco, the last portfolio company in Charme II, to Medtronic. Terms of the transaction were not disclosed.
Bellco, a pioneer in blood purification treatments, was acquired by Charme II in April 2012. It creates therapies and systems for the treatment of renal failure, multiple organ failure and sepsis. Bellco’s full line of dialyzers and chronic and acute dialysis machines perform dialysis for adult, pediatric and neonatal End Stage Renal Disease (ESRD) patients. For more than 40 years, Bellco has offered advanced blood purification treatments for ESRD patients with chronic and acute kidney injury. The company’s solutions are available in more than 50 countries.
Matteo di Montezemolo, Founder and Managing Partner of Charme Capital Partners said:
“During a 4-year investment cycle in Bellco, Charme has built a professional management team, supported the consolidation of key international markets including Canada, Brasil and China, and further strengthened the company in its clinical, scientific and R&D activities.
The deal executed with Medtronic represents a fitting conclusion to Charme II’s investment in Bellco. We are very proud of having created the ideal conditions to attract the interest of a global industry leader. I am convinced that this transaction represents an excellent opportunity also for Bellco.
Charme II has now successfully completed the disposal of all its portfolio companies and now, through our offices in London and Milan, is fully focused on new strategic investments at a pan-European level for Charme III.”
Andrea Traversone – Partner of Amadeus Capital Partners said:
"When we originally invested in Bellco we identified the company as pioneer in hemodialysis solutions with key treatments both for chronic dialysis and critical renal care. The acquisition of Bellco confirms the world class quality of Bellco’s technology in this field. This represents our second successful exit in Italy and co-investment with Charme Capital Partners that has been a great co-investment partner in both Bellco and Octo Telematics."
Further announcements on the development of Charme Capital Partners will be made in due course.
About Charme Capital Partners
Charme Capital Partners (www.charmecapitalpartners.com) is based in London and Milan 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 approximately €1bn and invested with a pan-European approach in companies with strong growth and internationalisation prospects. In addition to Bellco, these include Poltrona Frau Group (global leader in high-end design furniture, acquired by Haworth) and Octo Telematics (world leader in insurance telematics services, acquired by Renova Group).
About Amadeus Capital Partners
Amadeus Capital Partners is a global technology investor. Since its inception in 1997, the firm has raised over $1bn for investment and backed more than 100 companies in the software, mobile, internet, cyber security and medical technology sectors. The investment team is based in India, South Africa, Sweden, UK and USA, has deep experience in technology and invests in high-growth companies from early stage to pre-IPO. Amadeus previously invested in Octo Telematics (world leader in insurance telematics services, acquired by Renova Group).