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- EBRD invests an additional €5.2 million in Famar in Greece following last year’s €24 million equity investment
- Investment is part of a capital increase alongside MidEuropa and co-investors
- Funds will finance Famar’s acquisition of a state-of-the-art sterile manufacturing site in Germany and capex in Greece.
The European Bank for Reconstruction and Development (EBRD) is increasing its equity investment in Famar, a leading pharmaceutical contract development and manufacturing organisation headquartered in Greece.
The EBRD is committing an additional €5.2 million as part of a capital increase led by private equity firm MidEuropa, alongside other co-investors.
The new investment will support Famar’s ambitious growth plans, including the acquisition of a state-of-the-art sterile manufacturing site in Homburg, Germany, as well as capital expenditure (capex) in its Greek operations. The EBRD’s contributionn will specifically finance the capex in Greece, with Famar’s plan including new production lines and labelling machines, as well as maintenance and upgrades to existing equipment.
The capital increase follows the Bank’s initial €24 million equity investment last year, which supported MidEuropa’s acquisition of Famar alongside other co-investors.
A key pillar of the original investment thesis was the company shifting its product mix towards higher value-added pharmaceutical products. Famar has outperformed initial expectations, particularly for sterile products, and as a result, is carrying out a capital increase to support the expansion of its manufacturing capabilities in Greece and the purchase of its first production facility in Germany.
Famar focuses on the manufacturing and distribution of a wide range of pharmaceutical, consumer health and cosmetic products, serving a diversified blue-chip customer base in international markets with a focus on Europe. As well as its production sites in Greece and expansion into Germany, the company has operations in Italy and Spain.
The EBRD started operating in Greece on a temporary basis in 2015 to support the country’s economic recovery following its economic crisis. To date, the Bank has invested more than €8.5 billion in 118 projects in the corporate, financial, energy and infrastructure sectors of the Greek economy.