Asset manger Ardian has acquired about 60% of Dedalus Holding, owner of Italy’s Dedalus Spa, a global clinical health software.
In particular, Ardian will acquire a 14% stake in the company from Hutton Collins Partners, a 35.59% stake from Mandarin Capital Partners and a 10.41% stake from Health Holding Company Srl, owned by the company founder Giorgio Moretti, chairman and CEO of Dedalus.
Moretti will retain a share of around 40% as well as his current roles in the company, thereby ensuring management continuity.
This is the sixth deal executed by the Ardian Mid Cap Buyout team in Italy. The transaction is expected to support Dedalus, with a projected turnover of €170m in 2016, in a new growth phase at an international level, the asset manager said.
“Dedalus is an Italian luminary that offers interesting growth opportunities,” said Yann Chareton, managing director at Ardian Mid Cap Buyout.
“We will work along with Giorgio Moretti and his management team to explore new avenues of business development and to attain an even stronger position in the clinical health sector at an international level. The great work done so far by Dedalus will be further developed by our long-term investment approach, which will aim to fully exploit the group’s skills and expertise,” Chareton said.
”The ICT sector in the clinical health industry in the coming years will inexorably face an important global consolidation process, certainly in Europe. Investments in R&D to maintain competitiveness and new business models that need significant initial investment all require important financial resources, a large customer base and a strong international presence,” Moretti said.