Astorg Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Astorg Partners has acquired 17 companies. It has also invested in 2 others.

Astorg Partners’ most common sectors for investment aremedical products (14%) and software (8%) . The Firm’s most common investment types include secondary buyout (55%) and buyout (lbo, mbo, mbi) (26%). In total, Astorg Partners has invested in 2 US states and 10 different countries. Its largest (disclosed) acquisition occurred in 2014 when it acquired Sebia SA for $1.4B.

In the last 3 years, Astorg Partners has exited 5 companies. The Firm’s most common exit type is secondary buyout (63%). Astorg Partners’ largest (disclosed) exit occurred in 2021 when it sold HRA Pharma SA for $2.0B.

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M&A Summary

  • M&A Total Activity97
    • M&A Buy Activity65
    • M&A Sell Activity32
  • Total Sectors Invested 32
  • Total Countries Invested 10
  • M&A Buy/Sell Connections 28
  • M&A Advisors 38

Astorg Partners

Astorg Partners

68 rue du Faubourg Saint-Honoré,
Paris, 75008
France
+33 1 53 05 40 00
www.astorg.com
info@astorg.com

Astorg Partners is a private equity firm that targets small to midcap company investments primarily in France and to a limited extent, Western Europe. Astorg Partners looks for companies valued between €400 million and €2 billion, requiring at least €15 million in equity. Areas of interest include healthcare, retail, distribution, hospitality, and professional services. Prospective transaction situations include leverage build-ups, divestitures, family transitions, and secondary buyouts. Astorg Partners was formed in 1998 and is based in Paris and has additional offices in London and Luxembourg.


Investment Criteria

Sectors of Interest: Aerospace, Beverages, Business Services, Chemicals, Communications, Consumer Services, Food, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Life Science, Manufacturing, Media, Medical Products, Retail, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, United Kingdom, Western Europe, Eastern Europe, Nordic

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value 400 2,000
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (4.2/yr) # 44 2 8 6 3 2 65
vol $3.6B $388M $4.0B
Sell (1.2/yr) # 26 1 4 - - 1 32
vol $6.2B $2.0B $8.3B
  97

Most Recent M&A

Company Date Value Type
Hamilton Thorne Ltd. 2024-07-22 388M USD Going Private
Beverly, Massachusetts · www.hamiltonthorne.ltd
Audiotonix Holdings Ltd. 2024-04-23 - Secondary Sale
Chessington, United Kingdom · www.audiotonix.com
Steliau Technology SARL 2024-02-26 - Secondary Buyout
Montrouge, France · www.steliau-technology.com
Sofico NV 2023-11-21 - Secondary Buyout
Gent, Belgium · www.sofico.global
Fastmarkets Ltd. 2023-06-01 - Divestiture
London, United Kingdom · www.fastmarkets.com
hg medical GmbH 2023-05-05 - Secondary Buyout
Raisting, Germany · www.hg-medical.de
Delinian Ltd. 2022-11-24 - Going Private
London, United Kingdom · www.delinian.com
IPCOM Insulation Solutions NV 2022-07-13 - Secondary Buyout
Melle, Belgium · www.ipcom.be
Avania 2022-06-20 - Secondary Buyout
Boston, Massachusetts · www.avaniaclinical.com
Open Health Communications LLP 2022-05-31 - Secondary Buyout
London, United Kingdom · www.openhealthgroup.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
LGC Ltd. 2019-11-21 Kova International, Inc. 2023-07-24 2
Teddington, United Kingdom · www.lgcgroup.com Garden Grove, California · www.kovaintl.com
Delinian Ltd. 2022-11-24 Fastmarkets Ltd. 2023-06-01 1
London, United Kingdom · www.delinian.com London, United Kingdom · www.fastmarkets.com
Open Health Communications LLP 2022-05-31 The CM Group 2022-07-28 1
London, United Kingdom · www.openhealthgroup.com Hingham, Massachusetts · www.thecmgroup.com
LGC Ltd. 2019-11-21 Drug Development Solutions 2022-05-17 1
Teddington, United Kingdom · www.lgcgroup.com Fordham, United Kingdom · www.dds.lgcgroup.com
Corsearch, Inc. 2021-04-20 Incopro Ltd. 2021-06-10 1
London, United Kingdom · www.corsearch.com London, United Kingdom · www.incoproip.com
Anaqua, Inc. 2019-02-13 Actio IP AS 2021-05-19 2
Boston, Massachusetts · www.anaqua.com Bergen, Norway · www.actio.no
IQ-EQ 2015-09-10 Constellation Advisers LLC 2021-01-05 3
Luxembourg, Luxembourg · www.iqeq.com New York, New York · www.constellationadvisers.com
Clario 2016-03-08 BioClinica, Inc. 2020-12-10 6
Philadelphia, Pennsylvania · www.clario.com Princeton, New Jersey · www.bioclinica.com
Clario 2016-03-08 Exco InTouch Ltd. 2016-12-08 5
Philadelphia, Pennsylvania · www.clario.com Sawbridgeworth, United Kingdom · www.excointouch.com

M&A by Sector

Sector Current # Value All-time # Value
Medical Products 7 (24%) 388M (100%) 9 (14%) 1.8B (45%)
Software 3 (10%) - 5 (8%) 721M (18%)
Business Services 2 (7%) - 5 (8%) -
Electrical Equipment - - 3 (5%) 421M (11%)
Electronics 1 (3%) - 3 (5%) -
Internet Software and Services 3 (10%) - 3 (5%) -
Life Science 1 (3%) - 3 (5%) -
Test/Measurement Equipment 1 (3%) - 2 (3%) 113M (3%)
Building Materials 1 (3%) - 2 (3%) -
Chemicals 2 (7%) - 2 (3%) -
Communications 1 (3%) - 2 (3%) -
Consumer Services - - 2 (3%) -
Energy Services and Equipment - - 2 (3%) -
Information Services 2 (7%) - 2 (3%) -
Manufacturing - - 2 (3%) -
Media 1 (3%) - 2 (3%) -
Retail - - 2 (3%) -
Consumer Products - - 1 (2%) 473M (12%)
Plastics - - 1 (2%) 451M (11%)
Aerospace - - 1 (2%) -
Apparel/Textiles - - 1 (2%) -
Distribution 1 (3%) - 1 (2%) -
Financial Services 1 (3%) - 1 (2%) -
Food 1 (3%) - 1 (2%) -
Healthcare Services - - 1 (2%) -
Information Technology 1 (3%) - 1 (2%) -
Insurance - - 1 (2%) -
Machinery - - 1 (2%) -
Metals/Mining - - 1 (2%) -
Restaurants - - 1 (2%) -
Technology Hardware - - 1 (2%) -
Transportation - - 1 (2%) -
Total 29 $388M 66 $4.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
France 5 (17%) - 35 (53%) 2.9B (72%)
United Kingdom 9 (31%) - 11 (17%) -
United States 5 (17%) 388M (100%) 5 (8%) 388M (10%)
  Massachusetts 4 (14%) 388M (100%) 4 (6%) 388M (10%)
  Pennsylvania 1 (3%) - 1 (2%) -
Belgium 3 (10%) - 4 (6%) -
Italy 1 (3%) - 3 (5%) -
Germany 2 (7%) - 2 (3%) -
Netherlands 2 (7%) - 2 (3%) -
Switzerland - - 2 (3%) 721M (18%)
Ireland 1 (3%) - 1 (2%) -
Luxembourg 1 (3%) - 1 (2%) -
Domestic 5 (17%) - 35 (53%) 2.9B (72%)
Cross-border 24 (83%) 388M (100%) 31 (47%) 1.1B (28%)
Total 29 $388M 66 $4.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 23 (79%) - 36 (55%) 1.9B (47%)
Buyout (LBO, MBO, MBI) - - 17 (26%) 1.2B (31%)
Divestiture 2 (7%) - 6 (9%) 473M (12%)
Stake Purchase 1 (3%) - 3 (5%) -
Going Private 2 (7%) 388M (100%) 2 (3%) 388M (10%)
Growth Capital 1 (3%) - 2 (3%) -
Total 29 $388M 66 $4.0B

Exits by Deal Type

Type Total # Value
Secondary Sale 22 (69%) 4.7B (57%)
Trade Sale - Public Company 4 (13%) 3.5B (42%)
Trade Sale 4 (13%) -
Sold to Management 1 (3%) 36M (< 1%)
Merger 1 (3%) -
Total 32 $8.3B

Top M&A Advisors

Financial Deals
Ernst & Young Capital Advisors LLC
5
Rothschild Global Advisory
5
Houlihan Lokey
4
Legal Deals
Latham & Watkins
6
Paul Hastings
4
BonelliErede
2

Deal Values

buy # Total
> $1B 1 $1.4B
$100M to $1B 6 $2.5B
< $100M 1 $60M
TOTAL $4.0B
Largest Sebia SA
$1.4B (2014-06-02)
sell # Total
> $1B 4 $6.2B
$100M to $1B 6 $2.0B
< $100M 1 $36M
TOTAL $8.3B
Largest HRA Pharma SA
$2.0B (2021-09-08)

M&A Connections

Deals
Acquired from
Investor(s)
56%
37 (56%)
Strategic(s)
5%
3 (5%)
Exited to
Investor(s)
66%
21 (66%)
Strategic(s)
25%
8 (25%)

FAQ

When was Astorg Partners founded?

Astorg Partners was founded in 1998.

What type of investor is Astorg Partners?

Astorg Partners is a private equity firm.

Where is Astorg Partners headquartered?

Astorg Partners is headquartered in Paris, France.

How much capital does Astorg Partners have under management?

Astorg Partners has 22.0B EUR under management.

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