We are delighted to have found the perfect fit in 21 Invest France, which shares our entrepreneurial culture and vision for the future
The new shareholding structure, actively supported by the management team, will enable PLG to:
o pursue strategic acquisitions and joint ventures to further broaden and deepen its portfolio of expertise, and expand international coverage
o develop new service offerings for adjacent markets such as medical device
o accelerate new service innovation and create additional value for clients
Paris, France – January 28, 2019 — ProductLife Group (PLG), has announced that 21 Invest France has taken a majority capital stake in the business, facilitating a new phase of expansion and innovation. PLG’s founder and management team have also invested significantly in the operation, which concluded on January 18th.
ProductLife Group is a respected expert in regulatory affairs and pharmacovigilance outsourced management for the healthcare and life sciences industries. The 25-year-old group has a solid and diversified base of Life Sciences clients, including 36 of world top 50. It offers its services in more than 100 countries through a competitive global outsourcing model.
PLG had been actively looking for the right partner to support a next phase of robust business growth and value creation for clients. The new shareholding structure is a positive boost for all employees, stakeholders, and clients, as it will ensure continuity and enhanced resourcing, thus evolving its services to clients. The move will also enable PLG to take its offerings to a broader market globally, and into adjacent markets such as medical devices– a dynamic industry segment which is seeing new regulations.
Commenting on the announcement, Pierre Cuny, PLG’s Founder and Executive Chairman, said, “We are delighted to have found the perfect fit in 21 Invest France, which shares our entrepreneurial culture and vision for the future. Our investors fully support our strategy to expand our activities globally, and will help take our offering to more international markets and move the business to the next level.”
Members of PLG’s management team have also invested in the new company. “The core team at PLG remains committed to successfully delivering value to its clients and is eager to break new ground,” Sébastien Schmitt, the Group’s Executive VP for Commercial and Delivery, said.
“We are thrilled to see 21 Invest France joining forces with us: together we are investing in PLG’s long-term corporate goals. As well as extending our reach to deliver services globally, we believe it is very important to be able to offer a high-quality localised service. Having 21 Invest France with us will help to ensure that we succeed.”
“What a fantastic start to 2019,” Laurent Couston, Executive VP and CFO, added. “With all of the regulatory developments in life sciences, there has never been a greater need for the solutions and services PLG provides. Now we can take that proposition and expand it, offering it to a broader market. The future looks very exciting for our clients, our prospects, our staff, as well as our partners and the market at large.”
Reflecting the growing demand for its solutions and services, PLG’s global annual turnover has grown rapidly - to a current level of €25 million. Thanks to its clients’ continuous loyalty, and irrespective of any future acquisitions, the business is on course for double-digit growth over the next few years.
About ProductLife Group
ProductLife Group is one of the European leaders in global Regulatory and Safety outsourcing and consulting services for life sciences. Structured on a unique and functional business model of technical platforms and geographical hubs, ProductLife Group offers its customers global support through its subsidiaries and network of certified partners covering more than 100 markets.
About 21 Invest
21 Invest is a European investment firm, investing in mid-market companies based in Italy, France and Poland, through local funds. The Group, created by Alessandro Benetton and Gérard Pluvinet, has completed more than 100 investments in the mid-market over the past 27 years.
Astou Ciss - +33 (0)1 56 88 33 00 - email@example.com
Sarum PR – PR for ProductLife Group
+44 7970 006624
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