21 Investimenti is to invest in SIFI, the first investment for its new fund

April 23, 2015

21 Investimenti has signed a binding agreement to invest in SIFI, a leading player in the Italian ophthalmic industry.

Founded in 1935, SIFI develops, produces and distributes innovative pharmaceutical treatments, diagnostic instruments and surgical equipment for eye care, covering the vast majority of ocular pathologies.

The management team, led by Chairman Fabrizio Chines, is composed of professionals with longstanding experience, who have been able to drive the company’s growth over the last few years to reach a turnover of around Euro 60 million, of which 30% generated by exports, and an Ebitda margin of 20% in 2014.

SIFI enjoys an advantageous third place on the Italian ophthalmic market after two multinational corporations, leaving behind larger national and international pharmaceutical companies. The Italian ophthalmic market is expected to grow significantly in the coming years, linked to the increasing needs of an aging population.

21 Investimenti will strive to accelerate the company’s growth alongside the management team according to the two following drivers:
Organic growth: launch of new innovative products and building additional distribution platforms;
International expansion: opening toward new markets, aiming to become a leading European player in its reference industry.

Alessandro Benetton, Founding Managing Partner of 21 Investimenti, commented: “We are pleased to announce the first investment of our new fund, 21 Investimenti III, in SIFI. We will work alongside the management team implementing 21 Partners proven value creation model. Our experience coupled with SIFI’s strengths will allow to build one of the international leaders in the ophthalmic industry as well as another example of “Made-in-Italy” excellence.”

Fabrizio Chines, Chairman of SIFI added: “On the 80th anniversary from SIFI’s establishment, I am very happy for the partnership with 21 Investimenti, which will allow to invest further in international expansion and new technologies. Their proven experience in supporting the growth of small and medium Italian enterprises makes us look optimistically at the next stage of group expansion, and assures us that we can complete our mission to provide ophthalmologists and their patients innovative therapeutic solutions.”

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