M&A Deal Summary

Montagu and Astorg Partners Acquire Sebia

On June 2, 2014, private equity firms Montagu and Astorg Partners acquired medical products company Sebia from Cinven for 1.4B USD

Acquisition Highlights
  • This is Montagu’s 5th and Astorg Partners’ 2nd transaction in the Medical Products sector.
  • This is Montagu’s 3rd and Astorg Partners’ largest (disclosed) transaction.
  • This is Montagu’s 12th and Astorg Partners’ 26th transaction in France.
Investment Fate
  • Sebia was sold to a consortium of financial buyers in 2017.

M&A Deal Summary

Date 2014-06-02
Target Sebia
Sector Medical Products
Buyer(s) Montagu
Astorg Partners
Sellers(s) Cinven
Deal Type Secondary Buyout
Deal Value 1.4B USD

Target

Sebia

Lisses, France
Sebia is a provider of clinical protein electrophoresis equipment and reagents, a technology used for in-vitro diagnostic testing. Its systems analyse proteins in order to screen and monitor various diseases and conditions; primarily oncology (Multiple Myeloma), metabolic disorders such as Diabetes and also Hemoglobinopathy and rare pathologies. Sebia was founded in 1967 and is headquartered in Lisses, France.

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Buyer(S) 2

Buyer

Montagu

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 11.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Montagu is an independent private equity firm focused on European management buyouts and growth capital transactions. The Firm seeks opportunities valued between €100 million and €1 billion. Sectors of interest include healthcare, medical products, financial services, software, IT, information services, and education. Montagu dates back to 1968 and is based in London.


DEAL STATS #
Overall 84 of 115
Sector (Medical Products) 5 of 10
Type (Secondary Buyout) 14 of 29
Country (France) 12 of 21
Year (2014) 4 of 5
Size (of disclosed) 3 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-06 Arkopharma Laboratories

Carros, France

Arkopharma Laboratories is a pharmaceutical laboratory specialised in the area of phytotherapy, natural medicine and dietary supplements. By offering a global approach to health and well-being, Arkopharma Pharmaceutical Laboratories meets consumers' needs. It offers natural medicines intended for treatment and prevention, increases consumption oriented towards family self-medication, and also offers healthcare professionals new possibilities for prescriptions. Arkopharma Laboratories was founded in 1980 and is based in Carros, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-27 Maplin Electronics

Rotherham, United Kingdom

Maplin Electronics Ltd. is a specialist retailer of consumer electronics. Its national network of stores are a goldmine of useful consumer technologies and gadgets.

Sell £85M
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 27 of 66
Sector (Medical Products) 2 of 9
Type (Secondary Buyout) 6 of 36
Country (France) 26 of 35
Year (2014) 1 of 3
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-30 Staci

Saint-Ouen-l'Aumône, France

Staci is a third-party logistics provider with a focus on complex retail logistics. Staci offers innovative B2B and B2C logistics solutions for companies wishing to outsource all or part of their logistics and distribution. Staci was founded in 1989 and is based in Saint-Ouen-l'Aumône, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-16 Megadyne Group

Mathi, Italy

Megadyne Group develops and manufactures polyurethane and rubber belts for use in power transmission and conveying systems, as well as a range of complementary products such as rubber hoses and metal pulleys. It has its headquarters in Turin, Italy, and serves over 30,000 customers across a variety of industries through 15 manufacturing plants and 33 distribution centers all around the world.

Buy -

Seller(S) 1

SELLER

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
PE ASSETS 39.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.


DEAL STATS #
Overall 94 of 126
Sector (Medical Products) 2 of 2
Type (Secondary Buyout) 21 of 30
Country (France) 7 of 11
Year (2014) 1 of 4
Size (of disclosed) 10 of 24
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-24 Medpace

Cincinnati, Ohio, United States

Medpace is a scientifically-driven, global, full-service clinical contract research organization (CRO) providing Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace’s mission is to accelerate the global development of safe and effective medical therapeutics through its high-science and disciplined operating approach that leverages local regulatory and deep therapeutic expertise across all major areas including oncology, cardiology, metabolic disease, endocrinology, central nervous system and anti-viral and anti-infective. Headquartered in Cincinnati, Ohio, Medpace employs approximately 2,700 people across 36 countries. Medpace was founded in 1992 and is based in Cincinnati, Ohio.

Buy $915M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-05 Partnerships in Care

Borehamwood, United Kingdom

Partnerships in Care Limited is a provider of specialist mental health and related services. It provides services caring for men and women with complex mental health needs and specialises in the areas of mental health, personality disorders, learning disabilities and brain injury rehabilitation.

Sell $660M