- Alto Partners will exit its minority stake in Diatech
- Diatech’s founder and management team will retain majority ownership of the company
- TA Associates is a global private equity firm based in Boston, US
TA Associates has signed an agreement to make a growth investment in Diatech Pharmacogenetics, a pharmacogenetics and cancer precision medicine diagnostics company. No financial details of the transaction were disclosed.
Diatech is based in Ancona, Italy.
TA’s investment will support Diatech’s continued development of diagnostic products and reagents in the pharmacogenetics sectors, as well as its global growth initiatives, the release added.
“The company’s proven track record and leading position in its market mean it is well positioned to capitalise on organic and inorganic growth opportunities, expanding its addressable market and extensive product portfolio,” said Birker Bahnsen, MD at TA and head of the firm’s Europe Healthcare Group.
Alto Partners will fully exit its minority stake in Diatech as part of the transaction.
“Since our investment in 2021, Diatech has achieved strong organic growth, expanded into new global markets and broadened its product portfolio,” said Enrico Ricotta, senior partner at Alto Partners.
Diatech’s founder and management team will maintain majority ownership of the company, according to a release.
The transaction is expected to close in the second quarter of 2023, subject to regulatory approval.
TA Associates is a global private equity firm based in Boston, US. The firm has invested in over 560 companies and has raised $48.6 billion in capital to date.
Alto Partners is an independent company controlled by its multidisciplinary team to promote and manage private equity funds investing in small-to-medium-sized Italian companies. The firm is based in Milan, Italy.