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August 02, 2007
Ergon Capital Partners II announces its acquisition of Farmabios SpA

Milan, August 2, 2007

Ergon Capital Partners II SA (“Ergon”) acquired today 100% of the share capital of Farmabios SpA from its current owner, Mr. Mario Giannachi, through a newly incorporated company, Pharma 007.

Based in Gropello Cairoli, Pavia, Farmabios is an Italian manufacturer of active pharmaceutical ingredients with leading worldwide positions in steroids and cephalosporins, and attractive developments in high potent substances. Mario Giannachi commented: “This is a strategically important step in the development of the company. Ergon has the experience of working with entrepreneurial management teams to develop companies and create value. This partnership with a strong financial investor such as Ergon gives Farmabios and its employees the opportunity to continue growing the business and to take full advantage of the market’s potential. I am confident that Ergon, together with the management team in place, will succeed in further consolidating Farmabios’ positioning as a reliable manufacturer of quality APIs”.

Emanuele Lembo, partner at Ergon, added: “Ergon’s strategy is to invest in leading businesses with sustainable competitive advantages and build-up potential. Farmabios perfectly matches our investment criteria. We were impressed by the entrepreneurial spirit, the unique technological know- how and the significant development potential of Farmabios. Ergon is willing to support Farmabios’ existing management team in further developing the company’s activities and pursuing a growth strategy, aimed at providing superior products and services to its pharmaceutical customers worldwide”.

Ergon was advised by the Abaxbank (M&A) and Gianni, Origoni, Grippo & Partners (legal). Mr. Giannachi was advised by Studio Legale Pedersoli & Associati (legal). BNL (BNP-Paribas Group) acted as Mandated Lead Arranger, providing the debt facilities required to fund the acquisition and the future growth of the company.

About Ergon

Ergon is a mid-market private equity investment company with 500 million under management, backed by Groupe Bruxelles Lambert of Belgium and by ING/Parcom of the Netherlands.

With offices in Brussels, Milan and Madrid, Ergon seeks to make investments in companies with leading sustainable positions in niche markets and with build-up potential, located in Belgium, Italy or Spain. Ergon’s investment philosophy is one of long-term value creation in partnership with management teams. Ergon combines the industrial and conservative long-term vision of a successful family-controlled business (Group Bruxelles Lambert) with the strength and experience of a large international financial institution (ING).

Ergon’s current portfolio includes the following: (i) Stroili, the leading Italian jewellery retail distributor with over 300 stores, (ii) La Gardenia, a leading Italian cosmetics and perfumery retailer with approximately 90 stores, (iii) Seves, the world leading manufacturer of glass insulators for power transmission and glass blocks for architectural and interior design applications, (iv) King, the Benelux leading distributor of non-food consumables and disposables to a wide range of industries, (v) Aliplast, a leading aluminium profile systems manufacturer for windows, doors, conservatories and curtain walls, and (vi) Joris Ide Group, a leading Benelux manufacturer of steel roofing and cladding sheets and panels for the construction sector.

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