> Fremman acquires Palex from Ergon and Corpfin
Today, Fremman 1 MM SCSp (“Fremman”), Ergon Capital Partners IV SCSp (“Ergon”) and Corpfin Capital (“Corpfin”) announced the acquisition by Fremman of a majority stake in Palex (or the “Company”), the leading distributor of high value-added MedTech equipment and solutions. Ergon and Corpfin will remain as minority shareholders alongside Fremman.
Headquartered in Barcelona (Spain) and founded in 1955 by the Knuth family, Palex is the leading distributor of high value-added MedTech equipment and solutions for public and private hospitals and laboratories in Spain and Portugal. The Company leverages on a unique business model offering a wide product portfolio with over 130,000 references from +550 blue-chip suppliers, primarily distributed under exclusivity contracts, to more than 1,500 public and private clients.
The Company is led by the CEO Xavier Carbonell who, together with the rest of the management team, have been successful over the years in consolidating the healthcare distribution sector in Iberia with a continued inorganic strategy on top of organic growth, building Palex as the reference partner for public and private hospitals.
Xavier Carbonell, CEO of Palex, commented on the transaction: “Since 2007, when the current management team joined the Company, we have relentlessly focused on delivering best-in-class service for the broad healthcare community, continuously bringing new solutions and entering into innovative therapeutic areas. Furthermore, we are proud to have integrated more than 10 acquisitions since 2016. We are very grateful and happy with the uncompromised support we have had from Ergon and Corpfin and thrilled about the next phase with Fremman as majority shareholder, where we will continue to further pursue growth opportunities in Iberia and abroad.”
Ricardo de Serdio, Founding Partner and CEO of Fremman said “We are very excited to partner with Palex, its outstanding management team, Ergon and Corpfin and to be part of its ambitious growth story. Xavier and his team have consistently outperformed the market and delivered excellent results across all areas. In this next stage, we are confident that Fremman’s sector expertise, consolidation experience, pan-European network, hands-on approach, and ESG focus will further enhance Palex’s potential and will help management take the Company to the next level.”
Pablo Álvarez Couso, Director at Ergon, remarked that “it has been a privilege to support Xavier Carbonell and the outstanding Palex management team during our tenure as majority shareholder. The Company has overperformed in every aspect of its strategic plan, delivering excellent service to the broad healthcare community. We are delighted to continue alongside Fremman in the Company’s next phase of growth.”
Emanuele Lembo, Senior Partner at Ergon, concluded: “Relying on its unique business model, Palex has been able over the years to combine remarkable organic growth while at the same time becoming the reference consolidation platform in the sector. We are convinced Palex will succeed in its further national and international expansion and believe Fremman is an excellent partner for the Company’s next stage.”
Alberto Curto, Managing Partner of Corpfin, highlighted the extraordinary ability of the management team, “with whom we have had the honour of partnering up for more than five years now, and expect to continue contributing to this new stage of the Company´s development.”