M&A Deal Summary

Cinven and Ontario Teachers Pension Plan Acquire SYNLAB

On June 25, 2015, private equity firm Cinven and pension Ontario Teachers Pension Plan acquired healthcare services company SYNLAB from BC Partners

Acquisition Highlights
  • This is Cinven’s 9th and Ontario Teachers Pension Plan’s 5th transaction in the Healthcare Services sector.
  • This is Cinven’s 9th and Ontario Teachers Pension Plan’s 3rd transaction in Germany.
Investment Fate
  • SYNLAB went public in 2021.
  • SYNLAB was sold to a financial buyer in 2023.

M&A Deal Summary

Date 2015-06-25
Target SYNLAB
Sector Healthcare Services
Buyer(s) Cinven
Ontario Teachers Pension Plan
Sellers(s) BC Partners
Deal Type Secondary Buyout

Target

SYNLAB

Munich, Germany
SYNLAB provides human and veterinary laboratory services. SYNLAB was founded in 1998 and is based in Munich, Germany.

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Buyer(S) 2

Buyer

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 139 of 186
Sector: Healthcare Services M&A 9 of 10
Type: Secondary Buyout M&A Deals 30 of 57
Country: Germany M&A 9 of 14
Year: 2015 M&A 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-25 Labco

Paris, France

Labco is a provider of medical diagnostic services. Labco also operates a large portfolio of hospital outsourcing contracts in Europe, providing services to both ambulatory care and hospitals. Labco was founded in 2003 and is based in Paris, 75010, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-31 Tractel

Foetz, Luxembourg

Tractel provides lifting and access-related products. This includes lifting, material handling, measurement of tension and loads, suspended working platforms, building maintenance installations and fall arrest safety equipment. Tractel was founded in 1941 and is based in Foetz, Luxembourg.

Buy -
Buyer

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Pension
Founded 1990
PE ASSETS 116.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.


DEAL STATS #
Overall 83 of 176
Sector: Healthcare Services M&A 5 of 10
Type: Secondary Buyout M&A Deals 31 of 56
Country: Germany M&A 3 of 6
Year: 2015 M&A 8 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-28 Infiltrator Water Technologies

Old Saybrook, Connecticut, United States

Infiltrator Water Technologies LLC is a manufacturer of products for the water and wastewater industries. Infiltrator manufactures a variety of revolutionary products and innovative, environmentally friendly alternatives to traditional stone and pipe leachfield and concrete septic wastewater system components. Infiltrator Water Technologies LLC was founded in 1987 and is based in Old Saybrook, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-30 Heritage Royalty

Calgary, Alberta, Canada

Heritage Royalty is an oil and gas royalty company with 4.8 million acres of mineral fee title lands and other royalty interests on 0.5 million acres. Heritage Royalty is based in Calgary, Alberta.

Buy -

Seller(S) 1

SELLER

BC Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 30.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

BC Partners is a large investment group focused on private equity, credit, real estate, and co-investment strategies. The Firm's private equity group looks to make control investments in European and North American businesses valued above €300 million. Sectors of interest include healthcare, directory publishing, media, industrial products, food, distribution, manufacturing, consumer services, business services, and communications. BC Partners was formed in 1986 and is based in London, England.


DEAL STATS #
Overall 37 of 61
Sector: Healthcare Services M&A 5 of 6
Type: Secondary Buyout M&A Deals 12 of 20
Country: Germany M&A 6 of 9
Year: 2015 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-03 Pharmathen

Amstelveen, Netherlands

Pharmathen is a European pharmaceutical company that focuses on developing, manufacturing, and out-licensing complex generic pharmaceutical products. Pharmathen's differentiated B2B model attracts a blue-chip customer base of more than 215 generic pharmaceutical companies, which it serves from two US/EU-approved manufacturing facilities in Greece. Pharmathen was founded in 1969 and is based in Amstelveen, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-14 Cote Restaurants

London, United Kingdom

Cote Restaurants is a restaurant businesses, providing consistently high-quality, freshly-prepared food in a modern bistro inspired setting. The restaurants are committed to sourcing seasonal and high-quality ingredients, and to providing an exceptional dining experience for customers. Cote Restaurants was founded in 2007 and is based in London, England.

Buy £250M