Abris CEE Mid-Market Fund's subsidiary Nept Holdings has acquired a stake in ITP, a Polish company which sells aesthetic medicinal products across 45 countries.
Image: Abris acquires stake in ITP. Photo: Courtesy of rawpixel/Unsplash
ITP operates in the aesthetic medicine, beauty, fitness and wellness markets. The company owns the Neauvia brand, a new generation of hyaluronic acid dermal fillers and a line of professional cosmeceuticals currently sold in over 45 countries globally.
ITP also specializes in selecting technologies and global brands on aesthetic medicine, medical devices and wellness equipment markets and then sells them across Poland and other markets.
The company’s rapid development is the result of business strategy is claimed to be based on a holistic approach to client requirements and the development of long-term relationships with partners and extending full support at all stages of cooperation.
It is the fifth investment that Abris has made this year, from the €500m that it has secured in last year’s autumn from international investors to support business projects in Poland and Central and Eastern Europe.
Abris Capital Partners managing partner Paweł Gieryński said: “We believe that a Polish company performing so well on the very demanding luxury product market of aesthetic medicine is a real diamond. At Abris, we like to support ambitious projects delivered with passion by their founders.
“This is why we chose ITP SA. We intend to support the company not only financially, but also, and perhaps above all, with our know-how and help make it an international star on the aesthetic medicine market.”
In 2015, ITP acquired MatexLab, a Swiss producer and distributor of hyaluronic fillers to create a third, important revenue stream and the start of its international expansion.
The dermal fillers are produced at its lab in Italy. MatexLab invests heavily in its own R&D, working on new product development and innovative medical applications.
ITP CEO and management board chairman Gabriele Drigo said: “We are currently focused primarily on further development of our innovative Neauvia dermal fillers which were created by our in-house R&D department. We would like to focus even more on international expansion.
ITP’s products are distributed on five continents and the company is seeking to expand into China and the US.
In China, it has started the registration procedure, while in the US it plans to submit the necessary paperwork before the year end.