Disposal of MIR to AKSÌA
On 5th March 2021 Aksìa Group SGR S.p.A. signed an agreement to acquire a controlling stake in MIR – Medical International Research Srl (“MIR” or the “Company”) from the existing shareholders, who will cumulatively reinvest a 25% stake in the Company.
Founded in 1993 and headquartered in Rome (Italy), MIR is a leading player in the respiratory industry, with a significant focus on the attractive homecare segment. The Company offers an integrated diagnostic platform combining medical devices (i.e. oximeters, spirometers and disposable turbines) with internally developed proprietary software allowing for real-time monitoring of vital signs directly on iOS, Microsoft and Android compatible apps. MIR’s products are intended for the use of professionals as well as end-customers
In 2020, MIR reported revenues of approx. €15m with an EBITDA in the range of €4m. The Company is expected to grow at double digit figures in 2021, leveraging on its positioning towards the home-medicine trend as well as on the launch of a new atrial fibrillation platform
The sale process, launched in May, has been extremely competitive since the very beginning and attracted strong interest from a broad spectrum of primary PE mid-market operators, with more than 10 non-binding offers received after dispatch of the Information Memorandum. Following a 4-weeks Phase II dedicated to the completion of the business due diligence and involving a limited number of counterparties, Aksìa was granted an exclusivity agreement in mid-November.
Aksìa is a recognized Italian private equity firm specialized in mid-market buyouts with more than 40 completed transactions in Italy and abroad, displaying a focus on SMEs operating in Made in Italy sectors and niches of excellence.
With the support of Aksìa, MIR enters a new stage of development which will focus on pursuing its continuous product innovation strategy within the homecare diagnostic segment, with the aim of further reinforce its leading positioning in Italy and abroad.
The signing of this transaction represents an important achievement for the franchise, with the entire process carried out throughout the intermittent lockdown periods. Such achievement further confirms the leading role and capabilities of Mediobanca in the Italian Mid Corporate space, while also strengthening the bank’s relationship and recognition with leading Italian Private Equity firms.