Permira and Marcucci family complete purchase and combination of Kedrion and BPL

Kedrion's existing shareholders FSI and CDP Equity will reinvest alongside Permira and the Marcucci family and support the next phase of development of the business.

  • Kedrion Biopharma and Bio Products Laboratory develop, manufacture and commercialise therapeutic products from blood plasma
  • Ugo Di Francesco, CEO of Chiesi Group, becomes CEO of the combined company
  • Paolo Marcucci, co-founder of Kedrion, becomes the combined company’s chairman

Permira and the Marcucci family have bought and combined Kedrion Biopharma and Bio Products Laboratory (BPL). The Marcucci family were supported by co-investors Ampersand Capital Partner and a wholly owned subsidiary of the Abu Dhabi Investment Authority. Kedrion shareholders FSI and CDP Equity will also reinvest.

Kedrion and BPL are bio pharmaceutical companies that develop, manufacture and commercialise therapeutic products from blood plasma. The combined company, which generates over €1.1 billion in global revenue, 87% of which comes from outside its Italian and UK home markets, will be headquartered in Italy.

Ugo Di Francesco, CEO of Chiesi Group, has been appointed the CEO of the combined company, effective from January 2023. Paolo Marcucci, co-founder of Kedrion, will be the combined company’s chairman and CEO until Ugo Di Francesco joins the company, and will then stay on as non-executive chairman.

Kedrion was established by the Marcucci family in 2001 and is headquartered in Castelvecchio Pascoli in Italy. BPL is headquartered in Elstree, England and was created in its present form in 2010 but its heritage dates back nearly 70 years.

The new business will have a combined US plasma collection footprint of close to 75 centres and is expected to generate 60% of revenue in the US market with 10 marketed products. The company is also establishing a presence in the Chinese market via a recent distribution agreement with Albuminex..

“We’re delighted to complete this transaction and now look forward to partnering with the Marcucci family, Ugo and the management teams of Kedrion and BPL to continue developing a combined business serving a global market,” said Silvia Oteri, partner and global head of Healthcare at Permira. “Ugo is an outstanding leader with a proven track record of growing global pharmaceutical businesses. With him at the helm, we are excited for this next phase of building a leading rare disease specialist platform that will deliver critical solutions to those in need around the world and with a deep commitment to its donors.”

“This partnership with Permira has made it possible to make an exciting step forward in the history of Kedrion, allowing us to create a global player in the plasma derivatives sector that can successfully compete in a growing market that is increasingly critical in global healthcare,” said Paolo Marcucci, chairman and CEO of Kedrion.

Permira is a global investment firm that was founded in 1995. It is headquartered in London and advises funds with total assets under management of over €60 billion. It makes long-term majority and minority investments across private equity and credit. It invests across the technology, consumer, healthcare and services sectors.