• Country: Croatia
  • Industry: Niche manufacturing (pharmaceutical packaging)
  • Date of initial investment: 2012
  • Exit date: 2019
  • Current ownership stake: Fully realized
  • Ownership stake at peak: 100%
Company description:
Piramida is the #3 player in the highly niche pharmaceutical glass ampoule production industry in Europe. In addition, the company is developing glass vials production as a second business line. Piramida exports over 97% of its production to over 19 countries. The facility has an area of around 6,900 sqm and has 19 production lines. The production capacity of the facility is around 550m ampoules and vials per annum.
Blue Sea Capital value added:
Introduced and incentivised new management team
Sourced and aligned the interests with two external industry experts
Worked with management on strategy of sales reorientation from CEE buyers towards Western European big pharma companies
Secured financing and EU funds for modernization and increased production capacities to facilitate growth, as well as improvements in product quality
Helped management to introduce detailed financial reporting