Clonit Buys Experteam’s Genetic Diagnostics

Clonit srl, a company active in the development, production, and distribution of molecular diagnostic reagents, participated by the Equita Smart Capital ELTIF fund, managed by Equita Capital sgr, has acquired 100 percent of Experteam srl, itself active in the field of molecular diagnostics. Selling are molecular biologist entrepreneurs Angelo De Bortoli (75 percent stake) and Federica Schiavon (25 percent).

Based in the VEGA Science & Technology Park in Venice and active since 1996, Experteam operates in the production and commercialization of high-quality products in the diagnostics of diseases of genetic origin (infertility, degenerative diseases, and oncology) and in human, environmental, and food virology and microbiology. The company ended 2021 with €3.5 million in net revenues, Ebitda of €1.2 million, and just under €2 million in net cash.

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The acquisition of Experteam is aimed at expanding Clonit’s technical and scientific expertise and portfolio of products and services offered

Clonit, which was founded in 1987 by Carlo Roccio and is an excellence in the field of molecular diagnostics, with a strong know-how in infectious and genetic diseases, closed its 2021 financial statements with €8.1 million in net revenues, an Ebitda of €3.9 million and net cash of €1.9 million.

The fund had announced the acquisition of a 33.3 percent stake in Clonit last May, a transaction that was later concluded in July and was conducted partly by a capital increase and partly by the purchase of shares from founder Carlo Roccio and CEO Dario Russo, who until then owned 90 percent and 10 percent, respectively. The fund’s investment, it had been said, is aimed at equipping Clonit with the necessary resources to implement its growth plan, both through external avenues and through organic development of the existing business.

Carlo Roccio, president of Clonit, commented on the acquisition of Experteam, saying, “With many years of experience in the field of diagnostic research and development, the Experteam team now has long-standing relationships with clients. Less than three months after the Equita Smart Capital – ELTIF fund entered our capital, we are excited to have already completed an initial acquisition and to be able to collaborate and expand our product portfolio as well as distribution channels, thus supporting our clients in the fast-growing molecular diagnostics market.”

Rossano Rufini, managing partner and head of private equity at Equita Capital sgr, and Anna Paola Moroni, partner, commented, “We are proud and congratulate the entire management team of Clonit for being able to complete a first add-on transaction just three months after our entry. Our investment strategy aims precisely at supporting small and medium-sized Italian companies to support them in their growth process both organically and through acquisitions.”

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(Featured image by qimono via Pixabay)

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