21 Invest sells PLG and reinvests in the group
21 Invest, a European investment group founded by Alessandro Benetton with offices in Italy, France and Poland, announces the sale of ProductLife Group (PLG) and its reinvestment in it, creating a global group in the Healthcare sector. With this €500 million transaction, PLG will be co-controlled by Oakley Capital and 21 Invest.
PLG is a French company that offers complete and innovative solutions for pharmaceutical companies, thanks to tailor-made services on a global scale, from the pre-marketing phase of a drug or medical device, to the end of its life cycle. PLG’s core business is divided into three main service areas: outsourcing for healthcare companies, regulatory and compliance consultancy and life cycle management. Founded in 1993, the company has a presence in 150 countries, serving over 1,000 customers (pharmaceutical, biotech and medtech companies).
Having entered the 21 Invest portfolio in 2019, over five years PLG has recorded extraordinary growth, going from a turnover of 25 million to 167 million euros in 2023, as well as from 240 to 1,500 employees, highlighting an exponential growth of seven times its initial size.
The partnership with 21 Invest therefore led to an acceleration of the development process. Among the actions undertaken, there was the strengthening of the management team with the appointment of six new top managers, including Xavier Duburcq, who became CEO in 2020. Organic growth was accompanied by an international growth strategy through targeted acquisitions in 9 countries , not only in Europe but also in other geographies such as the United States, India and Australia. Among these, there is also the acquisition, in 2023, of three Italian companies operating in the Life Sciences field: Pharma D&S Group, Intexo and LifeBee.
The operation is characterized by two distinctive elements. The first is the fact that the management team, led by CEO Xavier Duburcq, will invest in the company together with Oakley Capital and 21 Invest France.
Secondly, 21 Invest France will continue to be present, accompanying the new phase of development of the company through its Fund VI, as well as a Continuation Fund, managed by 21 Invest, which sees Eurazeo and Hayfin as main investors, together with others major names including Vintage Strategies at Goldman Sachs Alternatives, CA Indosuez Wealth Management and Arcano. In this way, PLG will have the necessary resources available to support its ambitious growth strategy.
Alessandro Benetton, President and Founder of 21 Invest, comments: “PLG represents another success story in the 21 Invest portfolio, reflecting the European skills and values of our team. This operation demonstrates our commitment to growing the companies in which we invest, finding innovative and wide-ranging solutions to continue to support their growth path. The partnership we established in 2019 is not only based on a long-term horizon, but today it is expanding to other important international investors. We have been present and investing in the French market for more than 25 years and I am proud of the results achieved by the French team at 21 Invest.”
#Benetton #Invest #sells #ProductLife #Group #million #euro #operation