LABOMAR SIGNS LOI TO ACQUIRE 70% OF THE WELCARE GROUP
Labomar has signed a letter of intent to acquire 70% of the Welcare Group. The Group comprises Welcare Industries S.p.A. and Welcare Research S.r.l., producers of medical devices for skincare. Founded in 2000 by Fulvia Lazzarotto and Franco De Bernardini, the Welcare Group develops, manufactures and markets medical devices to prevent and treat infections and to manage skin injuries of varying causes. With headquarters in Orvieto (Terni), it operates in 22 countries across the world, in Europe, the Middle East, South American and Australia. Since 2020, Marco Grespigna has been shareholder and Director of the Group Companies. Since 2020, Marco Grespigna has been shareholder and Director of the Group Companies.
The letter of intent provides for an exclusive commitment until July 30. The transaction is currently expected to be concluded by the first half of July, pending satisfaction of the conditions precedent and, above all, the positive outcome of the due diligence process. The addition of the Welcare Group to the Labomar Group will provide significant strategic value, thanks to the strong links between their respective products and the lack of overlaps between the products, markets and customer bases of the two Groups.
Consolidated revenues totalled approx. Euro 6.7 million in 2020, of which around 85% were generated on international markets. Reported Consolidated EBITDA was Euro 2.4 million, with a positive NFP (cash) of approx. Euro 3.3. million.
The complete press release is available on the “Results and press releases” page of our INVESTOR section.