May 12 (SeeNews) - Austria-based private equity firm Mezzanine Management said on Tuesday its AMC Capital IV fund sold Croatian clinical research organisation Optimapharm to U.S.-based asset management firm The Rohatyn Group.
It did not disclose the value of the deal.
You can subscribe to our M&A newsletter here
"The transaction generates a strong IRR [Internal rate of return] and money multiple for investors in AMC Capital IV following an 18-month partnership which saw profits triple as the business grew organically and through acquisitions," Mezzanine Management said in a statement, adding that this is its sixth successful full exit in the last six months.
In October 2018, Mezzanine provided a 10 million euro ($11 million) mezzanine facility to acquire a minority equity stake in Optimapharm through AMC Capital IV, marking its first investment in Croatia.
Since then, the invested capital went to support organic expansion and three add-on acquisitions in the Czech Republic, Switzerland and Austria, with the number of Optimapharm offices rising to 15 from 10, to meet its increasing customer base across the whole of Europe, according to the statement.
Optimapharm was founded in Zagreb in 2006. It specialises in managing clinical trials across Europe supporting companies in the biotech, pharma and medical devices space.
($=0.91956 euro)