Famar equity co-investment (EBRD-55619)

Countries
  • Greece
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 26, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
EPIONE CO-INVESTMENT LP (FAMAR)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 26.37 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 24.25
Converted using 2024-07-26 exchange rate.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 23, 2025

Disclosed by Bank Oct 20, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of an equity co-investment of up to EUR 25 million, alongside Mid Europa, for the acquisition of Famar, a European pharmaceutical Contract Development and Manufacturing Organisation ("CDMO").

The Bank's equity investment alongside Mid Europa will enable the transformation of Famar towards higher-value-added products with an enhanced set of R&D capabilities, and a potential for the Company to become a platform for further acquisitions in the Central and South Eastern Europe region.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Acquiring an indirect shareholding via an intermediary fund of a pharmaceutical Contract Development and Manufacturing Organisation with operations located in the EU, is associated with identifiable risks which can be readily addressed post-acquisition by the fund.  

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Equity co-investment of up to EUR 25 million (EUR 24,250,000)

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Headquartered in Greece, Famar is a mid-sized Greek pharma CDMO specializing in manufacturing and distribution of a wide range of pharmaceutical, consumer health and cosmetic products, with production sites in Greece, Spain and Italy. Famar was founded in 1949 as a Greek family business and has been private equity-owned since late 2018. The Company currently employs c. 1,700 people and has a diversified blue-chip customer base of c. 100 customers. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Famar Client -
- - - - MidEuropa Investor Relations Investor -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

COMPANY CONTACT INFORMATION

MidEuropa Investor Relations
IR@mideuropa.com
+44 (0) 207 886 3600
https://www.famar-group.com/

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

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How it works