Keensight Capital announced the launch of Demetra Holding, which is aming at becoming the world indepentend leader in the biomaterials sector (see here the press release). The deal has been made in partnership with shareholders of Tecres spa, a leading Italian sold to Demetra Holding where former Tecres shareholders have a majority stake. Morevoer Demetra Holding acquired aap Biomaterials from German listed aap Implantate for about 36.6 million euros (see qui il comunicato stampa), Demetra group will count about 140 employees and will be active in 70 countries.
Founded in 1981 by Giovanni Faccioli (chairman) and headquartered in Sommacampagna (Verona), Tecres is a specialist in acrylic resins, bone cement and preformed spacers.
After the deal the two companies will go on working separately while taking advantge of economies of scale. The two companies will still be led by their respectively ceos Denis Faccioli (Tecres’s ceo) and Daniel Zukowski (aap Biomaterials’ ceo).
This is the second investment in Italy for Keensight Capital after the one in Octo Telematics which was divested in 2014, when the company was sold to Russian Renova (see here a previous post by BeBeez).