The Rekeep group acquires 60% of U.Jet
- Jet is a leading company in the production of Non-woven fabric devices for the healthcare market and can rely on two clean rooms for the packaging and assembly of disposable fabric surgical kits and other accessories that are subsequently sterilised and used in the healthcare sector;
- The transaction, which has been carried out through subsidiary Servizi Ospedalieri, allows Rekeep to expand its offer in the hospital sector, in which at present the Group already achieves about 60% of its consolidated turnover, with over 500 facilities served in Italy and Poland.
Zola Predosa (Bologna), 2 April 2021 – Rekeep S.p.A., the parent company of the leading Italian group in the Integrated Facility Management sector, announces that it signed a binding agreement to acquire, through its wholly-owned subsidiary Servizi Ospedalieri S.p.A., an interest of 60% in the share capital of U.Jet from the holding company of the Tardioli family, who founded the leading business in the production of Non-woven fabric devices for the healthcare market more than 35 years ago.
The corporate partnership with the current management creates significant development synergies with Servizi Ospedalieri and with subsidiary Medical Device S.r.l., as well as allows Rekeep to expand its offer of services in support of the healthcare business, in which at present the Group already achieves about 60% of its consolidated turnover, with over 500 facilities served in Italy and Poland.
The acquisition will be executed through a carve-out of U.Jet’s core businesses, which will be contributed to a NewCo in which Servizi Ospedalieri will hold 60%, while the Tardioli family will hold the remaining interests.
U.Jet’s core business is focused on the production of hospital medical devices, including:
- Surgical gowns
- Equipment covers
- Procedure sets
which all meet the requirements of a high level of customisation, in line with the increasing customers’ demand for advanced products, through the use of proprietary technology that is co-designed with company suppliers.
U.Jet can rely on two clean rooms for the packaging and assembly of disposable fabric surgical kits and other accessories that are subsequently sterilised and used in the healthcare sector (i.e. hospitals, operating rooms);.
Following the transaction, Pietro Tardioli will take on the position of Chief Executive Officer, while Massimiliano De Marco, current Chairman of Servizi Ospedalieri, will also take on the position of Chairman of U.Jet.
U.Jet, which is based in Bastia Umbra (Perugia, Italy), achieved proforma consolidated Revenues of Euro 11.2 million in 2020, mainly in the Italian market, under agreements with public and private Hospitals, distributors, service companies and custom pack manufacturers; moreover, the Company also distributes in Albania, France, Switzerland, Tunisia and Bulgaria.
U.Jet, has obtained the ISO 9001:2015, ISO 13485:2016 certifications and the EC Quality Assurance System Certificate and has also entered the dental, veterinary, wellness, community, industrial sectors in most recent years.
In carrying out the transaction Rekeep has been advised by Lexjus Sinacta for legal matters, as well as by EY in financial Due Diligence activities, and by Studio Fantozzi for Structuring of the transaction and Tax due diligence activities. U.Jet has been assisted by KEYTOS Studio Associato and by Studio RC&Consulting for the start-up strategy of the partnership project
The effectiveness of the transaction, the closing of which is expected by June 2021, is subject to obtaining the necessary authorizations from the competent Authorities, including Golden Power clearance, as well as to the fulfillment of certain conditions precedent and the non-satisfaction of some termination conditions, in line with market practice for similar transactions.
“We start 2021 with this new transaction that confirms our aim to focus on sectors and markets with higher added value and stronger know-how and that allows us to establish a long-term partnership with an entrepreneurial family with great experience in the field, which will remain by our side in the future development of our business” – said Giuliano Di Bernardo, Chairman and Chief Executive Officer of Rekeep S.p.A..
Rekeep S.p.A. (“Rekeep”) is the leading Italian operator and one of the main European players in the Integrated Facility Management sector, i.e., it manages and provides integrated services targeted at properties, the environment and in support of healthcare services. Specifically, the services provided by the Rekeep Group are divided into two main business areas: 1. Integrated Facility Management – property management and maintenance services (environmental hygiene, technical and maintenance services, landscaping, logistics, auxiliary services, heat management, lighting, document management, fire prevention and video surveillance systems) delivered also through specialized companies; 2. Laundering & Sterilization – linen rental and industrial laundering services and linen and surgical instruments sterilization for healthcare operations, delivered through the subsidiary Servizi Ospedalieri S.p.A.. Rekeep’s headquarter is located in Zola Predosa (Bologna), with operating offices in Poland, France and Turkey, and employs more than 28,000 people in Italy and abroad.