M&A Deal Summary

Explorer Investments and C2 Capital Partners Acquire Bial

On January 1, 2021, private equity firm Explorer Investments and growth capital firm C2 Capital Partners acquired life science company Bial

Acquisition Highlights
  • This is Explorer Investments’ 2nd and C2 Capital Partners’ 1st transaction in the Life Science sector.
  • This is Explorer Investments’ 49th and C2 Capital Partners’ 12th transaction in Portugal.

M&A Deal Summary

Date 2021-01-01
Target Bial
Sector Life Science
Buyer(s) Explorer Investments
C2 Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Bial

Trofa, Portugal
Bial is a pharmaceutical company specializing in discovering, developing, and commercializing innovative medicines, with a focus on neuroscience and cardiovascular therapies. Bial was founded in 1924 and is based in Trofa, Portugal.

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Buyer(S) 2

Buyer

Explorer Investments

Lisbon, Portugal

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.8B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Explorer Investments is a private investment firm that looks to fund buyouts, as well as provide expansion and replacement capital to middle-market Portuguese companies. Explorer looks to invest a minimum of €10 million in transactions valued up to €150 million. Explorer does not have any sector preferences and typically holds investments for three to six years. Explorer Investments was formed in 2003 and is based in Lisbon, Portugal.


DEAL STATS #
Overall 52 of 73
Sector: Life Science M&A 2 of 8
Type: Buyout (LBO, MBO, MBI) M&A Deals 28 of 40
Country: Portugal M&A 49 of 68
Year: 2021 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 PowerVia

Lisbon, Portugal

PowerVia engages in heavy goods transport services, light cargo and passenger transport, equipment rental, crane service, goods storage, and auxiliary transport activities including transport organization, as well as the provision of all types of administrative services companies. PowerVia was founded in 1932 and is based in Lisbon, Portugal.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Grestel

Vagos, Portugal

Grestel is a manufacturer of tableware, serving accessories and ovenware made from the finest natural resources in Portugal, and using its formula for high-fired stoneware. Grestel was founded in 1998 and is based in Vagos, Portugal.

Sell -
Buyer
DESCRIPTION

C2 Capital Partners is a growth-oriented investment firm focused on opportunities throughout Portugal. The Firm looks to invest in a variety of industries and has a special interest in businesses that support ESG initiatives. C2 Capital Partners was formed in 2009 and is based in Lisbon.


DEAL STATS #
Overall 12 of 20
Sector: Life Science M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 10 of 13
Country: Portugal M&A 12 of 20
Year: 2021 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Cork Supply

Porto, Portugal

Cork Supply specializes in cork closures for still and sparkling wines. Cork Supply was founded in 1981 and is based in Porto, Portugal.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-26 Simoldes

Aveiro, Portugal

Simoldes is a mould maker company and supplies plastic injection moulds for the automotive industry. Simoldes was founded in 1959 and is based in Aveiro, Portugal.

Buy -