Klecha & Co. acted in 2021 as Buyside advisor to GPI S.p.A. (GPI:IM) - a leading in IT Solutions and Healthcare and Social Services Company listed on the Tech Leader segment of the EXM market (Euronext Milan) of Borsa Italiana.
Klecha & co. worked to select the best GPI’s acquisition target, identifying the Evolucare Group as the best opportunity and therefore introducing one management company to the other.
The Evolucare Group, which has been operating for more than 35 years, is a leading player in software solutions for the digital transformation of French healthcare operating in some 20 countries with more than 2,700 customers. In 2022, it recorded consolidated revenues of EUR 42.9 million and adjusted consolidated EBITDA of EUR 15.7 million (EBITDA margin of 37%).
The agreed price for the acquisition of approximately 96.58% of the Evolucare Group is around EUR 109 million, corresponding to an EV/Adj. EBITDA 2022 multiple of approximately 11.0x. The remaining approximately 3.42% is held by the current top managers of the company, Philippe Blanco (CEO) and Gauthier Frandon (Sales Director), who will lead the Evolucare Group in its development, consolidation, and growth journey.
The transaction is part of the Gpi Group’s plan for growth in the software for the digital transformation of healthcare sector and is fully in line with the guidelines of the 2022-2024 Strategic Industrial Plan, aimed at consolidating Gpi as a key player in the digital health sector at European level.
GPI, founded more than 30 years ago in Trento, has grown through significant investments in M&A (in Italy and abroad) and in R&D, carried out in partnership with leading Italian universities and research centres to transfer scientific, technological, functional and process knowledge into the e-health, e-welfare, and well-being sectors. The Company reported consolidated revenues of €360.2 million in 2022, with over 7,100 employees at year end, and more than 3,000 customers in over 70 countries.