unifarco

Milano – December 16, 2025 – Space Capital Advisors and Arca Fondi SGR, on behalf of the fund Arca Space Capital, are pleased to announce the closing of the investment in Unifarco S.p.A. (“Unifarco” or the “Group”), a leading Italian player in the development, manufacturing and marketing of dermatological products, nutraceuticals, functional foods and make-up for the pharmacy channel.

The transaction involves the subscription by Arca Space Capital of a capital increase of 20 million euros, aimed at supporting the Group’s growth plans, with a particular focus on industrial investments, innovation, international expansion and the strengthening of the Specialised Pharmacies network.

Arca Space Capital has acquired a 20% stake in Uranus S.p.A., the holding vehicle that owns a controlling interest in the Group, alongside the founding families, which will continue to retain, directly and indirectly, significant control over Unifarco.

The investment represents the fourth transaction completed by the Arca Space Capital fund, which was launched in 2023 by Arca Fondi SGR in partnership with the Space Capital Advisors team, further confirming its positioning in supporting Italian companies of excellence with strong growth prospects in their respective markets.

Unifarco: an Italian excellence recognised across Europe
Founded in 1982 in Belluno, Unifarco is one of the leading European players in dermocosmetics, driven by a distinctive model based on close collaboration with more than 7,000 independent pharmacies across Italy, Spain, Germany, Austria, France and Belgium, including over 650 Specialised Pharmacies dedicated to professional advisory and the delivery of value-added services to their customers.

The Group develops, manufactures and distributes a portfolio of dermocosmetic products, nutraceuticals, functional foods and make-up, including: 

  • the community brand Farmacisti Preparatori, a European leader in the pharmacy channel 
  • proprietary specialist brands, comprising Ceramol, Dolomia, MyCli, Biomalife, Genage and Keylife 

The Unifarco Group expects consolidated revenues of approximately 200 million euros in 2025, with steady growth driven by innovation developed by an in-house scientific team of over 50 researchers, the strength of its brands and international expansion.

Unifarco employs over 800 people and operates two manufacturing facilities in the Veneto region.

Luigi Corvi, Chairman of Unifarco, commented:
“The entry of Arca Space Capital strengthens our industrial project and allows us to accelerate innovation, production capacity and internationalisation. We will continue to invest in scientific research, in the development of our brands and in our manufacturing and logistics platform in support of our community of partner pharmacies across Europe.”

Edoardo Subert and Alfredo Ambrosio, Partners at Space Capital Advisors, commented: 
“Unifarco is a unique industrial story in Italy, with a distinctive business model, strong scientific innovation capabilities and a well-established presence across more than 7,000 European pharmacies. We are proud to support the management team and the founding shareholders in this new phase of development, backing an ambitious path of organic growth and international expansion.”

Ugo Loeser, Chief Executive Officer of Arca Fondi SGR, concluded: 
“The investment in Unifarco represents a significant step for us and is fully aligned with the mission of Arca Space Capital: to support Italian companies of excellence with a solid scientific foundation, a clear strategic vision and strong growth potential in international markets.”

Advisors to the transaction
Arca Space Capital was advised by Gatti Pavesi Bianchi Ludovici as legal and tax advisor, by Boston Consulting Group for business due diligence, by KPMG for financial due diligence and by ERM as advisor on HSE matters.

Unifarco was advised by BZM Buttignon Zotti Milan & Co. as financial advisor, by Grimaldi Alliance as legal advisor and by Studio Pison as tax advisor.

ARCA SPACE CAPITAL
Founded in 1983, Arca Fondi SGR is today one of the leading players in the Italian asset management landscape, thanks to the quality of its products and services. With assets under management reaching 50 billion euros in 2024, Arca Fondi SGR is a market leader in Individual Savings Plans (PIR), as well as in Target Date Funds, Open Pension Funds and ESG investments. Arca’s products are distributed through a broad and well-established network which, supported by long-standing partnerships with more than 50 banks and financial institutions, comprises over 4,500 branches. Since 2019, Arca has been part of the BPER Banca Group.

Arca Space Capital is a private equity fund established through a partnership between Arca Fondi SGR and Space Capital Advisors, with a fund size of 205 million euros. To date, the fund has completed three investments in RINA S.p.A. (leading operator in the testing, inspection and certification sector), Mosaiq Group S.p.A. (active in packaging for the luxury and fashion sectors), and Eurosirel S.p.A. (leader in wound care and cosmetic masks), with the addition of Unifarco.

Space Capital Advisors is a company founded by Partners Carlo Pagliani, Edoardo Subert, Alfredo Ambrosio, Laura Selvi and Alessandro Grassi, and is exclusively dedicated to the Arca Space Capital initiative.

Since 2013, the Space team has promoted the establishment of four SPACs, with total proceeds of approximately 1 billion euros, which led to the listing on the STAR segment of Borsa Italiana of an equal number of companies that are leaders in their respective sectors (FILA, Avio, Aquafil and Guala Closures).

In 2019, the Space team launched a club deal platform, completing two private equity investments in SMEs (Adler Ortho and Bruno Generators Group) for a total investment value of approximately 100 million euros, with the aim of supporting entrepreneurs in the growth of their businesses.