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Franklin Templeton buyout arm Darby invests in Uruguay’s Grupo Bioerix

11 Sep 2013

life science test tube_sqFranklin Templeton Investments’ buyout arm Darby Private Equity has completed an investment in Uruguayan healthcare product supplier Grupo Bioerix through its second Latin American Mezzanine Fund.

The company imports and distributes technology, equipment and supplies for medical use as well as pharmaceutical products produced in its own plant.

The company was founded in Uruguay in 1994, and has since expanded by opening offices in Bolivia and Paraguay.

Richard Frank, Darby’s managing director responsible for the Latin American mezzanine vehicle, said, “We are pleased to have concluded this investment in Bioerix as it reinforces Darby’s longstanding commitment to investing in the region and its growing economies.

“We are attracted to Bioerix because of its strong market leadership, successful track record in Uruguay, and its potential for regional expansion to meet the growing demand in the Latin American healthcare sector.”

Last month Darby hired Latin American buyout veteran Roberto Velarde as a managing director to lead its business in the region.

Velarde previously had stints as managing director and CIO with Grupo Inder, which has buyout investments in Chile, Colombia and Peru, and was the founder of North America Capital Partners.

NACP focused on financial advisory and private equity investment in the Latin American mid-market.

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