Barings Backs Agilitas’s Buyout of Prodieco Advanced Engineering Solutions
Barings, one of the world’s leading investment management firms, announced that it has served as sole arranger of secured credit facilities to support Agilitas’s buyout of Prodieco Advanced Engineering Solutions (“The Company” or “Prodieco”) in December 2021.
Headquartered in Ireland, Prodieco is the largest independent global provider of high-performance blister tooling change parts for the pharmaceutical industry. Financial terms were not disclosed.
Founded in 1962, the Company produces bespoke precision blister tooling change parts for blister packaging lines in the pharmaceutical, animal and consumer health markets. Prodieco operates in a highly regulated market and offers high technology and mission-critical products used in precise and high-volume production lines, while offering market leading delivery times and customer service.
“We are delighted to support Agilitas’s buyout of Prodieco, a unique business in a highly specialist market, and we are excited to be able to play a part in its growth. As always, we focus on investing in only the highest quality companies backed by top-tier sponsors, of which Prodieco is an excellent example,” said Joseph Buckley, Director in Barings’ European Private Finance Group.
“Agilitas is pleased to work alongside Barings for this new growth chapter for the Company and we particularly appreciated their ability to arrange a bespoke structure that aligns with the Company’s transformation plan.” added Martin Calderbank from Agilitas.
Barings is a $391+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at Barings.com.
*Assets under management as of December 31, 2021
Agilitas is a pan-European, mid-market private equity firm founded in 2011. The firm invests in high-quality, defensible businesses with opportunities for significant step changes, creating long-term value through business transformation. Agilitas has a patient, sector-focused approach to investing and a strong track-record of dramatically transforming and growing companies. Agilitas is highly selective, targeting businesses that satisfy human and planetary needs.