M&A Deal Summary

Astorg Partners, Kester Capital and Unigestion Acquire Avania

On June 20, 2022, private equity firms Astorg Partners, Kester Capital and Unigestion acquired medical products company Avania from Kester Capital

Acquisition Highlights
  • This is Astorg Partners’ 7th, Kester Capital’s 2nd and Unigestion’s 1st transaction in the Medical Products sector.
  • This is Astorg Partners’ 4th, Kester Capital’s 3rd and Unigestion’s 4th transaction in the United States.
  • This is Astorg Partners’ 3rd, Kester Capital’s 1st and Unigestion’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2022-06-20
Target Avania
Sector Medical Products
Buyer(s) Astorg Partners
Kester Capital
Unigestion
Sellers(s) Kester Capital
Deal Type Secondary Buyout

Target

Avania

Boston, Massachusetts, United States
Avania is an integrated global, full-service CRO with specialized expertise in medical devices, novel technology, and combination products. It advances products from feasibility all the way through post-approval trials in analytics, clinical trials, consulting, regulatory, reimbursement, and more. Avania was founded in 1988 and is based in Boston, Massachusetts.

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Buyer(S) 3

Buyer

Astorg Partners

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 22.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

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.


DEAL STATS #
Overall 59 of 67
Sector (Medical Products) 7 of 9
Type (Secondary Buyout) 32 of 37
State (Massachusetts) 3 of 4
Country (United States) 4 of 5
Year (2022) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-31 Open Health

London, United Kingdom

Open Health is an operator of multi-disciplinary health communications and market access group, operating within four core business areas: medical communications; patient and brand communications; value, informatics, and evidence; and consulting and commercialization. Open Health was founded in 2011 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-13 IPCOM

Melle, Belgium

IPCOM is a provider of distribution and conversion of innovative solutions for thermal insulation, high-temperature insulation, passive fire protection, and acoustic insulation. IPCOM was founded in 2010 and is based in Melle, Belgium.

Buy -
DESCRIPTION

Kester Capital is a private equity firm focused on middle-market company investments in the UK. The Firm looks to invest a minimum of £5 million in businesses valued up to £100 million. Kester Capital was originally established in 2007 as Greenhill Capital Partners Europe, the European private equity arm of Greenhill & Co Inc. Kester Capital is based in London.


DEAL STATS #
Overall 12 of 13
Sector (Medical Products) 2 of 2
Type (Secondary Buyout) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-15 Rephine

Stevenage, United Kingdom

Rephine is a provider of Good Manufacturing/Clinical Practice (GMP/GCP) audits and regulatory consulting services to the pharmaceutical industry. Headquartered in Stevenage, and with offices in India and Turkey, Rephine is a business that has pioneered a differentiated approach to GMP/GCP auditing through its audit library model.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 DC Byte

Colchester, United Kingdom

DC Byte is a global market intelligence and analytics provider for data center operators, developers, investors, advisers and suppliers. This proprietary data and insight rich service provides users with a comprehensive global database, updated and validated in real time, alleviating critical customer pain points caused by the lack of reliable and transparent information. DC Byte is headquartered in London, with operations in Europe, Asia, and North America.

Buy -
Buyer

Unigestion

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Unigestion is an asset manager with a private equity division focused on global mid-market companies across Europe, North America, and Asia. Unigestion considers direct investments in established companies, secondary position acquisitions, and investments in emerging fund managers. The Firm invests in a variety of industries including industrials, agriculture, distribution, logistics, utilities, software, education, nutrition, leisure, and healthcare. Unigestion was founded in 1971 and is based in Geneva, Switzerland.


DEAL STATS #
Overall 10 of 12
Sector (Medical Products) 1 of 1
Type (Secondary Buyout) 1 of 2
State (Massachusetts) 1 of 1
Country (United States) 4 of 4
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-03 Evaluate

London, United Kingdom

Evaluate is a provider of commercial intelligence to the global life sciences industry. Evaluate is the trusted provider of mission critical commercial information for complex business decisions to the pharmaceutical industry. Evaluate’s core product is an industry leading set of analyst consensus forecasts that provides detailed insights at the product, disease, indication and geographic level. Evaluate creates value by structuring, normalising and integrating data from company filings, research organisations, and government bodies and providing tools that drive analytical insights from data. Evaluate was the first mover in this particular space and is a leading provider today. Evaluate was founded in 1996 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-04 Matec Industries

Massa, Italy

Matec Industries designs and produces complete plants for crushing, screening, washing aggregates and solutions for the purification and filtration of waste water in many sectors, the most important of which are: mining, aggregates, gravel, sand, stone, marble, concrete , ceramic and glass. Matec Industries was founded in 2004 and is based in Massa, Italy.

Buy -

Seller(S) 1

DESCRIPTION

Kester Capital is a private equity firm focused on middle-market company investments in the UK. The Firm looks to invest a minimum of £5 million in businesses valued up to £100 million. Kester Capital was originally established in 2007 as Greenhill Capital Partners Europe, the European private equity arm of Greenhill & Co Inc. Kester Capital is based in London.


DEAL STATS #
Overall 7 of 10
Sector (Medical Products) 2 of 2
Type (Secondary Buyout) 3 of 6
State (Massachusetts) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-15 Rephine

Stevenage, United Kingdom

Rephine is a provider of Good Manufacturing/Clinical Practice (GMP/GCP) audits and regulatory consulting services to the pharmaceutical industry. Headquartered in Stevenage, and with offices in India and Turkey, Rephine is a business that has pioneered a differentiated approach to GMP/GCP auditing through its audit library model.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 DC Byte

Colchester, United Kingdom

DC Byte is a global market intelligence and analytics provider for data center operators, developers, investors, advisers and suppliers. This proprietary data and insight rich service provides users with a comprehensive global database, updated and validated in real time, alleviating critical customer pain points caused by the lack of reliable and transparent information. DC Byte is headquartered in London, with operations in Europe, Asia, and North America.

Buy -