Agilitas, the pan-European mid-market private equity firm, today announces the completion of the buyout of Prodieco Advanced Engineering Solutions (the “Company” or “Prodieco”), the largest independent global provider of high-performance blister tooling change parts for the pharmaceutical industry.
Prodieco was founded in 1962 and has been a leader in precision engineering for over 60 years, designing, manufacturing, and supplying bespoke precision blister tooling change parts for blister packaging lines for pharmaceutical, animal and consumer health market products. Headquartered in Dublin, Ireland, it offers high-quality and innovative solutions to its customers, with market leading delivery times and customer service. Prodieco employs in excess of 230 highly skilled people globally and provides its products and services to customers in over 55 countries across multiple continents.
The Company helps address the growing demand for oral solid dose medication and the related growing regulation around safety, such as child resistant and senior friendly, tamper proof or high barrier packaging materials. By doing so, it provides safer and more effective ways for patients to take their medication. Its unrivalled expertise stems from decades designing and manufacturing precision products for all makes and models of blister packaging lines. This equips the Company with a unique understanding and engineering insight into the best possible tool design for each unique format, where success is dependent on high integrity design and extremely precise manufacturing tolerances.
Prodieco represents the latest example of Agilitas’s approach of backing ambitious management teams in high-quality and defensible businesses, with opportunities for multi-dimensional business transformation and a strong alignment between shareholder value and fundamental positive purpose to society or the environment.
Saad Akram of Agilitas, who will be joining the Board of Prodieco, commented: “Prodieco’s state of the art products and relentless focus on quality provide a fantastic platform with which to accelerate the Company’s growth to date and bring about step changes in performance. This Company is well-positioned within a rapidly growing market, and we are excited to support the management team’s vision to become the leading independent provider of precision tooling and parts to the life sciences industry.”
Mike O’Hara, incoming CEO of Prodieco, commented: “Agilitas’s deep sector knowledge and unequivocal support of Prodieco’s mission makes them the ideal partner to take the business forward into the next phase of growth. Agilitas’s support will be crucial in realising our ambition of becoming a globally renowned brand and delivering safe and innovative precision engineered solutions to an increasing number of pharmaceutical customers globally.”
Martin Calderbank, Managing Partner of Agilitas, said: “Prodieco’s sophisticated products are essential for ensuring medicines are securely packaged and are thus a key part of protecting patients and keeping people healthy. Together with the management team, we will seek to further improve Prodieco’s ability to develop and deliver the highest-quality blister tooling solutions and hope to bring its precision engineering skills to new markets to benefit more end patients.”
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