PE Deals

TPG buys Diocle Topco from ICG and Mérieux

Diocle Topco is the parent company of DOC Generici, an Italian pharmaceuticals manufacturer.

-
  • Karthic Jayaraman, partner at TPG Capital, and Ravi Umarji, TPG capital principal, will join DOC Generici’s board of directors
  • ICG invested in DOC Generici in partnership with Mérieux Equity Partners via its Europe VII Fund in April 2019
  • DOC Generici specializes in cardiovascular, gastrointestinal and neurological treatments

TPG Capital has bought the majority interest in Diocle Topco, parent company of DOC Generici, from ICG and Mérieux Equity Partners. DOC Generici is a pharmaceuticals manufacturer that specializes in cardiovascular, gastrointestinal and neurological treatments and was founded in 1996. It is headquartered in Milan.

As part of the deal, Karthic Jayaraman, partner at TPG Capital, and Ravi Umarji, TPG capital principal, will join DOC Generici’s board of directors.

“Our investment underscores TPG’s continued commitment to investing in Europe and our conviction in the unique opportunities within the region’s healthcare sector and the broader European market,” said Todd Sisitsky, president of TPG and co-managing partner of TPG Capital.

“We look forward to partnering with DOC Generici to grow its leadership in the market through continued organic and inorganic investments in the business,” said Karthic Jayaraman, partner at TPG Capital and co-head of the platform’s healthcare practice. “We are also excited to invest in the Italian market, which we believe presents attractive opportunities in the years to come.”

Global alternatives investor TPG was founded in San Francisco and has $120 billion in assets under management.

ICG in partnership with Mérieux Equity Partners invested in DOC Generici via its Europe VII Fund in April 2019. ICG is a global alternative asset manager with $72.1 billion in assets under management headquartered in London.

Mérieux Equity Partners is dedicated to equity investments in the health and nutrition sector. It currently has over $1 billion in assets under management. The French firm has recently launched its fifth vehicle which is dedicated to growth capital/LBO investments. It has a target size of $524 million.