Selvita acquires in Croatia

Ten post jest także dostępny w języku: polski

Selvita, which specialises in laboratory research and development services for external customers, has announced the conclusion of its first acquisition agreement. The Polish company will acquire 100% of shares in a Croatian company operating on the contract research market in the pre-clinical area. However, certain conditions must be met beforehand.

Fidelta in Selvita’s structure in January

Selvita informed about its plans to increase the scale of its operations some time ago (we wrote more about it here). Now the plans have begun to materialise and the company will make its first acquisition. Selvita announced in its current report that it had entered into a conditional sale agreement with Galapagos NV, based in Belgium.

As part of this transaction, Selvita will acquire 100% of shares in Fidelta d.o.o., Croatia. It has been revealed that the acquisition of the Croatian company will cost Selvita EUR 31.2m (i.e. approximately PLN 140m). The transaction is to be carried out with 30% own funds, the remaining 70% will be covered by a loan. The transfer of shares, and thus the finalisation of the transaction is scheduled for 4 January 2021. By that time Fidelta has to meet several conditions, including prolonging the lease agreement with Pliva Hrvatska d.o.o. and signing a conditional lease agreement with MEDI-LAB d.o.o.

Selvita plans further acquisitions

It is safe to say that the first acquisition of Selvita is quite courageous. Fidelta is a leading pre-clinical CRO (Contract Research Organization), providing services in the field of integrated research and development projects for biotechnology and pharmaceutical companies, the Selvita report reads. It is worth noting that Fidelta employs a total of over 180 employees, of which over 150 are scientists with many years of experience in drug discovery projects. The company has nearly 6,000 m2 of research space, with the possibility of enlarging it by another 2,000 m2.

Further development of Selvita can be expected. According to Strefa Inwestorow portal, Boguslaw Sieczkowski, President of Selvita, wrote in an investor chat: – The acquisition of Fidelta is a large acquisition. In 2021, we will focus on processes related to the integration of both companies, but we do not rule out another acquisition in 2021 (…). At the moment, we have about 570 employees. Irrespective of our acquisition strategy, Selvita continues to grow through organic growth. We are planning further employment in our laboratories in Krakow, Poznan and Zagreb.

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