Araoz & Rueda advises Charme Capital on the acquisition of Igenomix

•  Private Equity fund Charme Capital acquires a majority stake in the Valencia-based reproductive genetics multinational.

Araoz & Rueda has advised British private equity fund Charme Capital Partners on the acquisition of the Valencia-based company Igenomix, leading provider of genetic testing services for reproductive health patients and clinics. Araoz & Rueda’s has been led by partner Pedro Rueda and senior associate Guillermo Bueno.

Charme Capital has been also advised by PwC on the financial side, while Garrigues and Arcano have advised Igenomix on the legal and financial aspects respectively, of the transaction, closed last friday. 

Initially created in 2011 as a spin-off from Instituto Valenciano de Infertilidad (IVI), Igenomix is today a fully independent organization, and offers pioneering genetic testing services in reproductive medicine. Headquartered in Valencia, the company has laboratories in Miami, New York, Los Angeles, Mexico, Sao Paulo, New Delhi and Dubai, and works closely with IVF clinics worldwide.

Charme Capital Partners, a mid-market private equity firm with offices in Milan, London and Madrid, takes a Pan-European approach investing in companies with strong growth and internationalisation prospects. Since its founding in 2003 by Luca and Matteo di Montezemolo, Charme´s funds have raised circa EUR1 billion. 

The acquisition of Igenomix, completed through CCP´s Charme III fund, is the first transaction led by the firm´s recently opened Madrid office. Charme III was launched in 2015 with a Pan-European investment strategy focused on mid-market investments across a range of business sectors in Europe. It has a particular focus on the UK, Spain and Italy, and targets fast-growing, mid-market companies with an enterprise value between EUR100 and EUR500 million. 

Charme Capital Partners’ investment will help accelerate Igenomix’s internationalisation, boost the company’s world-leading R&D functions, and expand its genetic testing services applied to reproductive medicine across new markets including China and Russia.

CCP partners Francisco Churtichaga and Tommaso Beolchini have said: "Igenomix is enjoying accelerated growth exceeding 50% per annum and will approach EUR30 million sales in 2016, which represents a great opportunity to invest in a leading national player and contribute to its global expansion".