Blue Sea Capital Fund C.V. completes the acquisition of Piramida d.d. in Croatia

Blue Sea Capital Fund C.V. (“Blue Sea Capital”) announced that it has completed the acquisition of a 100% stake in Piramida d.d. (“Piramida”), the leading regional manufacturer of ampoules and vials for the pharmaceutical industry, based in Zagreb (Croatia).

Piramida supplies pharmaceutical companies throughout Europe. It is a modern, dynamic company with excellent management, state of the art production facilities and a product portfolio of proven high quality. The Company has full quality control and environmental management systems in place and is ISO accredited wherever relevant. It has a good reputation within the industry and is recognised by the big pharmaceutical players as a reliable supplier with top quality products.

Piramida has enjoyed continuous growth over the last decade and it has recorded an average growth rate of its sales revenue of almost 20% over the last three years. The Company is well positioned to benefit further from the strong growth potential of the pharmaceutical packaging market.

An already strong regional foothold, continuous expansion into new markets, and the proven ability and willingness of the Company to keep abreast of modernisation in technology underpin the attractiveness of the investment.

Sasa Galic, Managing Partner of Blue Sea Capital said: “This is our first investment and we are excited to have the opportunity to lend our support in continuing Piramida’s success story. Over the last decade the previous owners have built a unique platform with a high potential for growth which has been supported by the high quality of its products. We are delighted to work with the management and look forward to helping them achieve the planned results and to introducing further corporate governance procedures and improvements, taking the Company into the future.”
With over 170,000 patient visits every year, and performing over 300,000 procedures annually, Dr Ristic is one of the largest private healthcare providers in Serbia. With an excellent team of managers and almost 200 full and part time doctors and staff, Dr Ristic is synonymous with quality outpatient care in Belgrade.

As a leading player in the sector, Dr Ristic is well positioned to participate in the growth of private healthcare in Serbia in the coming years, setting the standard for quality care and improving the quality of healthcare provision nationwide.

Sasa Galic, Managing Partner of Blue Sea Capital said: “We are pleased to invest in Dr Ristic and in private healthcare in Serbia. Good quality healthcare provision has a universal impact on quality of life and Blue Sea Capital is happy to support the further development of a player who today reaches the most patients out of those present in the Serbian private healthcare sector. Blue Sea Capital is looking forward to working with the management team, doctors and staff of Dr Ristic.”

For further information please contact:
Blue Sea Capital:
Sasa Galic / Mila Cicek
+385 1 6399 510

Blue Sea Capital is a regional private equity fund established in July 2011. It has offices in Belgrade and Zagreb.

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