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  5. Apheon, Corpfin Capital and Ardian Acquire Palex

M&A Deal Summary

Apheon, Corpfin Capital and Ardian Acquire Palex

On December 13, 2019, private equity firms Apheon, Corpfin Capital and Ardian acquired distribution company Palex from Corpfin Capital

Acquisition Highlights
  • This is Apheon’s 2nd, Corpfin Capital’s 3rd and Ardian’s 6th transaction in the Distribution sector.
  • This is Apheon’s 3rd, Corpfin Capital’s 46th and Ardian’s 14th transaction in Spain.
Investment Fate
  • Palex was sold to a consortium of financial buyers in 2021.

M&A Deal Summary
Date 2019-12-13
Target Palex
Sector Distribution
Buyer(s) Apheon
Corpfin Capital
Ardian
Sellers(s) Corpfin Capital
Deal Type Secondary Buyout

Target

Palex

Barcelona, Spain
Palex is a distributor of sanitary equipment and advanced hospital solutions. It has a wide portfolio of specific hospital equipment and equipment for more than 40 medical specialties, from fungible material to sophisticated diagnostic, treatment, and laboratory equipment. Palex was founded in 1955 and is based in Barcelona, Spain.

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Buyer(S) 3

Buyer

Apheon

Brussels, Belgium

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 2.8B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Apheon is a generalist private equity firm that invests in middle-market companies throughout the Benelux, Italy, Iberia, France, and Switzerland. Ergon looks to invest €25 to €75 million in businesses with sustainable competitive advantages and operating in 'attractive' niche markets. Apheon was formerly knowns as Ergon Capital Partners. The Firm was formed in 2005 and is based in Luxembourg.

DEAL STATS #
Overall 28 of 40
Sector: Distribution M&A 2 of 2
Type: Secondary Buyout M&A Deals 10 of 13
Country: Spain M&A 3 of 5
Year: 2019 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-10 Looping

Saint-Malo, France

Looping is a pan-European leisure park operator that owns and operates 18 local and regional leisure parks, including theme parks, waterparks, wildlife parks, and aquariums, attracting over six million visitors a year. The group’s parks span eight European countries, including France, the UK, Spain, Switzerland, the Netherlands, Croatia, Germany, and Portugal. Looping was founded in 2011 and is based in Saint-Malo, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-01 CompaNanny

Amsterdam, Netherlands

CompaNanny provides a full range of premium family-focused services that take care of all the childcare needs of parents and support the development of the child. CompaNanny offers daycare and after school care for children aged 6 weeks to 12 years old through its inspiring locations concentrated in the larger cities in the Netherlands and one location in Switzerland. CompaNanny is based in Amsterdam, Netherlands.

Buy -
Buyer

Corpfin Capital

Madrid, Spain

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Corpfin Capital is an independent Spanish private equity firm focused on local opportunities. Corpfin will consider both majority and minority positions, looking to commit €15 to €45 million per transaction and EBITDA of €5 to €25 million. The Firm will invest in a variety of industry sectors. Corpfin was formed in 1990 and is based in Madrid.

DEAL STATS #
Overall 46 of 50
Sector: Distribution M&A 3 of 3
Type: Secondary Buyout M&A Deals 2 of 2
Country: Spain M&A 46 of 50
Year: 2019 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-09 Grupo Preving

Badajoz, Spain

Grupo Preving is an independent operator in the labor risk prevention sector offering a full range of health, safety & prevention (HS&P) services to large companies, SMEs and self-employed workers. Grupo Preving was formed in 1998 and is based in Badajoz, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-20 Berioska

Valencia, Spain

Berioska is a manufacturer of natural cosmetics and personal care products with Babaria brand distributes its products to the consumer market. Berioska was founded in 1981 and is based in Valencia, Spain.

Buy -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €1 billion per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 365 of 464
Sector: Distribution M&A 6 of 7
Type: Secondary Buyout M&A Deals 114 of 155
Country: Spain M&A 14 of 18
Year: 2019 M&A 30 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-11 Nutripack

Raches, France

Nutripack is a packaging manufacturer of rigid packaging offering both traditional packaging under the Nutripack brand (for the food processing and the collective catering industries) and eco-friendly solutions under the Ecocup brand (reusable cups for events and beverage industries). Nutripack was founded in 1990 and is based in Raches, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-16 Audiotonix

Chessington, United Kingdom

Audiotonix designs, engineerings, and manufactures professional audio mixing consoles, production software, and ancillary products. With pioneering solutions from premium audio brands Allen & Heath, Calrec, DiGiCo, DiGiGrid, Fourier Audio, Harrison, KLANG: technologies, Slate Digital, Solid State Logic, sonible, and Sound Devices, its products are used extensively in live sound, broadcast, theatre production, installations, houses of worship, TV and film production, music creation and recording studios. Audiotonix is based in Chessington, United Kingdom.

Buy -

Seller(S) 1

SELLER

Corpfin Capital

Madrid, Spain

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Corpfin Capital is an independent Spanish private equity firm focused on local opportunities. Corpfin will consider both majority and minority positions, looking to commit €15 to €45 million per transaction and EBITDA of €5 to €25 million. The Firm will invest in a variety of industry sectors. Corpfin was formed in 1990 and is based in Madrid.

DEAL STATS #
Overall 21 of 28
Sector: Distribution M&A 1 of 2
Type: Secondary Buyout M&A Deals 8 of 10
Country: Spain M&A 21 of 28
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-09 Grupo Preving

Badajoz, Spain

Grupo Preving is an independent operator in the labor risk prevention sector offering a full range of health, safety & prevention (HS&P) services to large companies, SMEs and self-employed workers. Grupo Preving was formed in 1998 and is based in Badajoz, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-20 Berioska

Valencia, Spain

Berioska is a manufacturer of natural cosmetics and personal care products with Babaria brand distributes its products to the consumer market. Berioska was founded in 1981 and is based in Valencia, Spain.

Buy -
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