Rome, November 8, 2023. GADA Group, leader in the distribution of medical devices and in the provision of integrated healthcare services, acquires 100% of Burke & Burke S.p.A., a leading company in Italy in the supply of highly technological equipment and solutions for critical area (adult and neonatal intensive care units), pulmonology, respiratory pathophysiology and anesthesia.
“This acquisition – says Antonio Biagio De Marinis, CEO of the GADA Group – allows our Group to consolidate its presence in treatment-intensive centres, strategic sector for the National Health System to which we are committed to offering the best solutions for patients care. Burke & Burke represents for public and private hospitals a reference partner in the proposition of valuable solutions in the care and treatment of critical patients. We believe that the experience, professionalism, and skills of our new colleagues at Burke & Burke will lead to the creation of synergies, which will help us generate value for the health of our country.”
“We are becoming part of a company – says Giusto Bonandrini, CEO of Burke & Burke S.p.A. – whose vision and strategic objectives constitute new pilars of our development prospects. It is a broad context, with an international dimension considering GADA’s membership of Palex Medical, a leading healthcare player in Europe. We are pleased that the path undertaken by our company has aroused the interest of GADA, a virtuous path, made possible by the constant commitment of our people who find in GADA the ideal environment to continue our growth, in a broader and structured organisational framework”.
Nicola Burke adds: “After almost 50 years of life of the company founded by my father in 1976 it’s an honor for my family to see the company enter an industrial reality that will guarantee all employees to work and compete in a national and international market increasingly competitive and complex“.
Ignazio Castiglioni, co-founder and CEO of HAT SGR, comments: “Burke & Burke is a solid company, characterized by high technological competence and operating in a strategic sector for the era in which we live. We are proud to have contributed to the growth of the company and the results of the exit of our fund Hat Technology Fund 4, lead investor in the operation, confirm this. We are confident that Burke & Burke, together with GADA and Palex Medical, will continue the development path undertaken. In the post Covid era, med-tech represents a key sector that has not yet expressed its full potential“.
“We have been successful – concludes Paolo Ferrario, President of Burke & Burke S.p.A. and CEO of Innova Club1 S.p.A. and Innova Investments – also thanks to the considerable contribution of the management, an industrial project that has seen the company grow and consolidate a leadership position in its sector. We are happy to have brought Burke & Burke within an international industrial group such as Palex Medical and to have generated an excellent return for all investors of Innova Club1 S.p.A., promoter of the operation a little over two years ago. We also thank the management of Gada/Palex and the Fremman Capital fund for their cooperation“.
In the negotiation, GADA Group was assisted by a team of the Cappelli RCCD Law Firm, led by attorney Ilaria Maria Placco. The Group was also supported by PwC for the financial aspects, with a team led by Dr. Giovanni Tinuper and Dr. Bianca Varcasia and for compliance aspects with a team led by Dr. Antonio Castro. Finally, for tax aspects, GADA Group was assisted by Studio Gitti and Partners with a team led by Dr. Diego De Francesco and Dr. Saverio Pizzi.
Burke & Burke S.p.A. selling shareholders were supported by law firms Gianni & Origoni (with a team led by attorney Raimondo Premonte), ADVANT Nctm (with a team led by Dr. Filippo Ughi) and Gelmetti Studio Legale Associato (with a team led by attorney Pierfrancesco Gelmetti), as well as by Grant Thornton Financial Advisory Services (with the team lead by Dr. Stefano Marchetti) for the financial aspects of the operation.
BURKE & BURKE SPA
Headquartered in Assago (Milan), Burke & Burke S.p.A. is an Italian company founded in 1976 by Antonio Burke, whose entrepreneurial action was then carried out by the historical partner Giusto Bonandrini together with Francesco Calabrese and Nicola Burke. The company specializes in the supply to public and private hospitals of high-tech equipment related to pneumology, respiratory physiopathology, anesthesia for neonatal intensive care departments and adults. www.burkeburke.com
INNOVA INVESTMENTS
Innova Investments is a company dedicated to the organization of private equity investments in the form of club deals, in Italian industrial companies with an excellent market positioning and significant growth opportunities, in sectors with good profitability and positive long-term trends. The Innova Investments partner team has a track record of success over many years in private equity transactions, both as investors and as strategic advisors and M&A advisors. The reference sectors are: (i) Industrial & Manufacturing, (ii) Healthcare & LifeScience and (iii) Technology. www.innovainvestments.it
HAT SGR
Founded in 2007, HAT SGR is the Italian leader in private equity investments in technological and innovative companies. With 37 investment transactions completed – including Assist Digital (digital CRM technology), Burke & Burke (medical technology) GPI (health & social care technology), Huma Therapeutics (digital health), Luisa Via Roma (luxury & fashion e-commerce), Lutech (digital, technology & system integrator), SIA (solutions and technologies for banking and finance), Safety21 (smart mobility), Wiit (cloud computing) – over 60 add-ons and 29 exits, HAT SGR continues to create value for all stakeholders, confirming that technological transformation, today more than ever, is the key to an even better future: a healthier planet, a smarter economy, a diverse and inclusive community and a wider path to prosperity.
www.hat.it
