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Recipharm expands technology, footprint with Mitim deal
April 2016
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JORDBRO, Sweden—Recipharm AB recently announced the acquisition of Mitim Srl, an Italian contract development and manufacturing organization specializing in the filling of injectable beta lactam products. The transaction has an enterprise value of €68 million (approximately $76.9 million), and is expected to be accretive to Recipharm’s EBITDA margin and earnings per share from the second quarter of this year. Mitim’s shares will be acquired by Recipharm’s subsidiary, Recipharm Italia S.p.A. Mitim saw pro-forma revenues of €42.5 million in 2015. The company brings with it roughly 250 employees and a product portfolio that includes beta lactams in dry sterile powder for injectable solutions, tablets and oral suspensions, and injectable sterile solutions, oral solids and liquids as well as semi-solids.
 
“We very much look forward to welcoming our new colleagues in Mitim to the Recipharm group. I am confident with their help and experience, we will continue to grow the business from our now substantial Italian platform,” said Giorgio Bruno, CEO of Recipharm Italia S.p.A.

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