M&A Deal Summary

GHO Capital Partners Acquires Ardena

On January 9, 2020, private equity firm GHO Capital Partners acquired life science company Ardena from Mentha Capital

Acquisition Highlights
  • This is GHO Capital Partners’ 8th transaction in the Life Science sector.
  • This is GHO Capital Partners’ 1st transaction in Belgium.

M&A Deal Summary

Date 2020-01-09
Target Ardena
Sector Life Science
Buyer(s) GHO Capital Partners
Sellers(s) Mentha Capital
Deal Type Secondary Buyout
Advisor(s) William Blair
Deloitte
Delphi Advisors GmbH (Financial)
Ellex
CorporateWise
Van Doorne (Legal)

Target

Ardena

Mariakerke, Belgium
Ardena is a contract development and manufacturing organization (CDMO). Ardena offers an integrated, flexible service encompassing drug substance production, dosage form manufacture, clinical logistics, bioanalysis, and dossier development. Ardena was founded in 1994 and is based in Mariakerke, Belgium.

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Buyer(S) 1

Buyer

GHO Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2014
PE ASSETS 6.0B EUR
Size Mega
Type Sector Focused
DESCRIPTION

GHO Capital Partners is a private investment firm focused on the healthcare sector. The Firm will consider opportunities throughout Europe and seeks well-established, profitable businesses that have the potential to deliver a combination of double-digit top line growth, significant efficiency gains and international expansion. GHO Capital Partners was established in 2014 and is based in London, England.


DEAL STATS #
Overall 11 of 20
Sector (Life Science) 8 of 14
Type (Secondary Buyout) 6 of 11
Country (Belgium) 1 of 1
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-31 CellCarta

Montreal, Quebec, Canada

CellCarta is a provider of specialized precision medicine laboratory services to the biopharmaceutical industry. Leveraging its integrated analytical platforms in immunology, histopathology, proteomics and genomics, as well as related specimen collection and logistics services, CellCarta supports the entire drug development cycle, from discovery to late-stage clinical trials. CellCarta was founded in 2000 and is based in Montreal, Quebec.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-30 FairJourney Biologics

Porto, Portugal

FairJourney Biologics is a biologics CRO, providing integrated services across antibody discovery, engineering, and production to global biopharma. The company operates a flexible, customer-oriented ‘one-stop-shop’ approach to biologics development focused on quality, reliability, and partnership. FairJourney Biologics was founded in 2012 and is based in Porto, Portugal.

Buy -

Seller(S) 1

SELLER

Mentha Capital

Amsterdam, Netherlands

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 50M EUR
Size Small
Type Sector Agnostic
DESCRIPTION

Mentha Capital BV is a private equity firm focuses on acquiring small and mid-sized market companies located Netherland, primarily in Benelux. The Firm looks to invests in companies with revenues of €20 - €150 million and EBITDA of €2.5 - €20 million. It firm usually aims for majority stakes although in specific cases it participates in club-deals. The Firm target companies operating in the fields of manufacturing, services & distributions, trade wholesale, retail, consumer goods/services and leisure. Prospective transaction situation includes MBOs, MBIs, growth capital, secondary buyouts and corporate spin-offs. Mentha Capital BV was formed in 2006 and is based in Amsterdam.


DEAL STATS #
Overall 13 of 21
Sector (Life Science) 1 of 1
Type (Secondary Buyout) 6 of 9
Country (Belgium) 2 of 2
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Aiden

Utrecht, Netherlands

Aiden is a full-service provider of business applications and innovative IT solutions to mid-market companies. The company has a portfolio of the full range of SAP ERP solutions, including Business One, Business ByDesign, and S/4HANA, complemented by Mendix low-code solutions and high-quality proprietary softwar. Aiden is based in Utrecht, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-01 Axon Digital Design

Gilze, Netherlands

Axon Digital Design designs and markets high quality broadcast equipment for the conversion, processing, routing and compliance recording of audio and video signals. Axon Digital Design was founded in 1987 and is based in Gilze, Netherlands.

Sell -