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Cross-border CRO acquisition for the Pandion Partners Group

November, 2020 - Selvita S.A. (Poland) and Galapagos NV have signed an agreement under which Selvita will acquire 100% of the outstanding shares in Fidelta d.o.o. (Croatia) for an enterprise value of € 31.2M plus the customary adjustments for net cash and working capital.  Selvita is a preclinical CRO (Contract Research Organization) with a proven track record of successfully completed projects and customers in 40 countries. Fidelta, a CRO with complementary competence and services, reported revenues of € 17.2M and an operating profit of € 4.4M in the first 9 months of 2020. The transaction is subject to customary closing conditions and is expected to close on the 4th of January 2021. Pandion Partners acted as financial advisors to the buyer, through their offices in Poland and Croatia.

 

 

Written on 25/11/2020