ARMADA Capital invests €1M of growth equity capital in SoftGroup
On May 27th 2016, ARMADA Capital (“ARMADA”), a newly registered growth equity investment vehicle focused on the CSE and MENA regions, completed its first transaction in Bulgaria. ARMADA is to invest €1M of growth equity capital in SoftGroup, a Bulgarian company which offers Serialization and Track & Trace (“SaTT”) systems for the pharmaceutical sector and is also a strategic partner to Dassault Systemes.
The need for higher level regulations in the pharmaceutical sector across the EU has been recently addressed through the adoption of The Delegated Act of the Falsified Medicines Directive 2011/62/EU on October 2nd, 2015. Officially published on February 9th, 2016, the Act mandates the implementation of mass serialization software by February 9th, 2019 by all global pharmaceutical companies and Contract Manufacturers (“CMOs”) which sell medicine on the territory of the EU. SoftGroup’s turnkey solution is fully compliant with those regulations and allows for scalability, customization and upgrades over time.
SoftGroup has already successfully deployed its integrated hardware and software solution at leading pharmaceutical companies in Bulgaria, including Actavis Bulgaria (part of TEVA), Antibiotic Razgrad, GE Pharmaceuticals and MC Pharma. “We recommend SoftGroup as a professional supplier of serialization systems and as a reliable partner for pharmaceutical companies,” comments Ms. Antoaneta Grancharska, Director Engineering and Maintenance at Actavis Bulgaria, Actavis’ largest production facility worldwide.
ARMADA’s investment would enable SoftGroup to scale its R&D and Sales teams and to expand its footprint across the CSE and MENA regions. Having recently been accepted to the Endeavor Network, SoftGroup aims to leverage the access to capital, markets and talent that Endeavor offers in the 25 countries in which it operates.
See more at www.endeavor.bg