M&A Deal Summary

Parquest Capital, NiXEN Partners, GIC, IK Partners and Keensight Capital Acquire Unither Pharmaceuticals

On October 26, 2022, private equity firm Parquest Capital, private equity firm NiXEN Partners, sovereign wealth fund GIC, private equity firm IK Partners and private equity firm Keensight Capital acquired life science company Unither Pharmaceuticals from Parquest Capital, Crédit Mutuel Equity, Equistone, Keensight Capital and Ardian

Acquisition Highlights
  • This is Parquest Capital’s 3rd, NiXEN Partners’ 2nd, GIC’s 1st, IK Partners’ 5th and Keensight Capital’s 7th transaction in the Life Science sector.
  • This is Parquest Capital’s 31st, NiXEN Partners’ 29th, GIC’s 1st, IK Partners’ 42nd and Keensight Capital’s 25th transaction in France.

M&A Deal Summary

Date 2022-10-26
Target Unither Pharmaceuticals
Sector Life Science
Buyer(s) Parquest Capital
NiXEN Partners
GIC
IK Partners
Keensight Capital
Sellers(s) Parquest Capital
Crédit Mutuel Equity
Equistone
Keensight Capital
Ardian
Deal Type Secondary Buyout

Target

Unither Pharmaceuticals

Amiens, France
Unither Pharmaceuticals is a developer and manufacturer of pharmaceuticals products. Unither operates six manufacturing sites in France, the United States, and Brazil, and has a dedicated research and development center in Europe. Unither Pharmaceuticals was founded in 1993 and is based in Amiens, France.

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Buyer(S) 5

Buyer

Parquest Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 610M EUR
Size Middle-Market
Type Sector Focused
DESCRIPTION

Parquest Capital is a private equity firm focused on acquiring and investing in mid-sized French companies. The Firm pursues companies with €20 to €150 million in revenue and is capable of committing up to €100 million per transaction. Sectors of interest include business services, consumer products, retail, and healthcare. Parquest Capital was originally established in 2002 as a unit of ING Insurance's French practice. Parquest Capital is based in Paris, France.


DEAL STATS #
Overall 32 of 34
Sector (Life Science) 3 of 3
Type (Secondary Buyout) 14 of 15
Country (France) 31 of 33
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-23 Tediber

Paris, France

Tediber designs and distributes quality bedding products, sold at a fair price based on strong ESG values. Tediber was founded in 2015 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-23 Xelya

Saint Cloud, France

Xelya is a publisher of SaaS business software which provides innovative technological solutions, consulting and training to tame the complexity of clients' businesses. Xelya was founded in 2005 and is based in Saint Cloud, France.

Buy -
Buyer

NiXEN Partners

Paris, France

Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 600M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

NiXEN is a French private equity group that targets investments in middle-market companies valued between €30 and €300 million. iXEN looks to invest €20 to €25 million of equity capital to support management buyouts/buy-ins, leveraged build-ups, owner buy-outs (OBOs), and public to private deals. The Firm is a 'hands-on' investment group and will consider opportunities in a variety of sectors, including manufacturing, consumer goods, specialist retailing, restaurants, and services. iXEN is supported by Natixis Private Equity and was formerly known as Natexis Industrie. The Firm was formed in 1998 and is based in Paris.


DEAL STATS #
Overall 31 of 31
Sector (Life Science) 2 of 2
Type (Secondary Buyout) 8 of 8
Country (France) 29 of 29
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 Magellan Consulting

Paris, France

Magellan Consulting is a consulting company in operational strategy and organization information technology. Magellan Consulting is based on its dual competence: business expertise and the strong technological specialization of its teams, which enables it to support its customers throughout their digital transformation projects. Magellan Consulting was founded in 2008 and is based in Paris, France.

Buy -
Buyer
DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.


DEAL STATS #
Overall 38 of 43
Sector (Life Science) 1 of 1
Type (Secondary Buyout) 13 of 15
Country (France) 1 of 1
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-22 Sani/Ikos Group

Halkidiki, Greece

Sani/Ikos Group is an operator of a luxury beach resort group that currently owns and operates in excess of 2,700 rooms spread across 10 unique resorts in Greece and Spain. Sani/Ikos Group is based in Halkidiki, Greece.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-08 Quest Global Services

Singapore , Singapore

Quest Global Services is a global engineering solutions provider with a proven track record of serving the product development & production engineering needs of high technology companies. Quest Global Services was founded in 1997 and is based in Singapore.

Sell -
Buyer

IK Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 14.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Ik Investment Partners Ltd. (Formerly Industri Kapital) is a private equity firm that targets control investments in mid-sized manufacturing and service companies located in select European countries. IK focuses on growth businesses located in the Benelux region, as well as Denmark, Finland, France, Germany, Norway and Sweden. The firm looks to commit €50 to €150 million of equity capital per transaction and targets companies with 'a proven ability to generate significant cash flow' as well as an ability to 'sustain growth through various economic cycles'. IK Investment Partners was formerly known as Industry Kapital. IK Investment Partners was formed in 1989 and has offices in Hamburg, London, Paris, and Stockholm.


DEAL STATS #
Overall 169 of 185
Sector (Life Science) 5 of 5
Type (Secondary Buyout) 64 of 73
Country (France) 42 of 46
Year (2022) 10 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-28 Exxelia International

Paris, France

Exxelia International develops and manufactures complex passive components and electromechanical solutions for niche industrial markets such as aeronautics, space, defense, medical and rail, where product reliability and performance are essential. The Group serves institutional clients, systems and equipment manufacturers. Exxelia offers a complete and custom product range (capacitors, inductors, resistors, filters, position sensors, and rotary joints) embedded into a large number of programs including the Airbus A350 and Boeing 787 Dreamliner, the Ariane 6 launcher, satellite constellations (such as Galileo and Oneweb), the Rafale and F-35, subway coaches and high-speed trains and medical equipment such as MRI machines and defibrillators. EXXELIA was founded in 2009 and is based in Paris, France.

Sell €453M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-27 Plus que PRO

Schiltigheim, France

Plus que PRO is a digital platform that enables craftsmen and small to medium-sized enterprises (“SMEs”) to elevate their online presence, drive revenue and margin growth as well as protect and improve their reputation, while also providing consumers with a tamperproof review hosting service based on blockchain technology. Plus que PRO was founded in 2014 and is based in Schiltigheim, France.

Buy -
Buyer

Keensight Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 5.5B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Keensight Capital is a private equity investment firm focused on majority and minority growth capital investments in Western European companies. Keensight makes equity investments in a number of situations including the provision of capital to finance growth, either organically or through acquisitions, or the buying out of existing shareholders. The Firm looks to invest €10 to €600 million and will consider business with up to €400 million in revenue. Keensight Capital was formed in 2000 and is based in Paris.


DEAL STATS #
Overall 40 of 50
Sector (Life Science) 7 of 9
Type (Secondary Buyout) 8 of 11
Country (France) 25 of 26
Year (2022) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-28 Axxam

Bresso, Italy

Axxam is an iPRO (innovative Partner Research Organization) and discovery company located in the scientific campus OpenZone. The Company is a provider of discovery services for the entire life sciences industry. Axxam has strong expertise across a broad range of discovery disciplines and innovative technologies, including assay development, compound management, HTS (high-throughput screening) / HCS (high content screening), hit identification and hit validation. Axxam is also engaged in developing novel innovative therapies for diseases with a high unmet medical need. Axxam was founded in 2001 and is based in Bresso, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 Quanos Solutions

Nuremberg, Germany

Quanos Solutions is a provider of software solutions for complex documentation. Quanos Solutions makes software product-accompanying materials such as instructions, data sheets, catalogs, etc. easy to practice. Quanos Solutions was founded in 1995 and is based in Nuremberg, Germany.

Buy -

Seller(S) 5

SELLER

Parquest Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 610M EUR
Size Middle-Market
Type Sector Focused
DESCRIPTION

Parquest Capital is a private equity firm focused on acquiring and investing in mid-sized French companies. The Firm pursues companies with €20 to €150 million in revenue and is capable of committing up to €100 million per transaction. Sectors of interest include business services, consumer products, retail, and healthcare. Parquest Capital was originally established in 2002 as a unit of ING Insurance's French practice. Parquest Capital is based in Paris, France.


DEAL STATS #
Overall 21 of 21
Sector (Life Science) 2 of 2
Type (Secondary Buyout) 15 of 15
Country (France) 20 of 20
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-23 Tediber

Paris, France

Tediber designs and distributes quality bedding products, sold at a fair price based on strong ESG values. Tediber was founded in 2015 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-23 Xelya

Saint Cloud, France

Xelya is a publisher of SaaS business software which provides innovative technological solutions, consulting and training to tame the complexity of clients' businesses. Xelya was founded in 2005 and is based in Saint Cloud, France.

Buy -
SELLER
DESCRIPTION

CM-CIC Investissement is a financing and advisory group focused on supporting a variety of small to mid-sized companies operating in Western Europe. The Firm looks to fund businesses at all investment stages including venture, growth, and buyout situations. In addition to providing financing, CM-CIC also offers M&A advisory services. CM-CIC Investissement is based in Paris.


DEAL STATS #
Overall 29 of 31
Sector (Life Science) 1 of 1
Type (Secondary Buyout) 17 of 17
Country (France) 27 of 28
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 Groupe Vidon

Rennes, France

Groupe Vidon is a firm specializing in industrial property consultancy. Groupe Vidon was founded in 1988 and is based in Rennes, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 Au Forum du Batiment

Paris, France

Au Forum Du Batiment specializes in the distribution of QOFI products (hardware, tools and industrial supplies) for craftsmen in the second work of the building industry (locksmithing, plumbing, sanitation, heating, electricity, metalwork), administrations and major accounts. Au Forum du Batiment was founded in 1991 and is based in Paris, France.

Buy -
SELLER

Equistone

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 9.6B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Equistone is a private equity firm that invests in small to mid-sized companies valued from €50 to €500 million. Equistone targets companies operating in the fields of services, healthcare, financial services, and consumer/travel. The Firm looks to invest €25 to €200 million in a variety of transactions, including buyouts, growth capital financings, recapitalizations, and take privates. Equistone was formed in 1997 and is based in London, England.


DEAL STATS #
Overall 184 of 194
Sector (Life Science) 2 of 2
Type (Secondary Buyout) 89 of 91
Country (France) 57 of 61
Year (2022) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-29 SF Filter

Bachenbülach, Switzerland

SF Filter provides filter products from original equipment suppliers (OES), as well as its own premium filter products, allowing contract manufacturers and OES to procure all their products directly from the company. Customers also benefit from a specialist sales team with extensive application and consulting expertise backed up by a growing e-commerce platform. Through its role as a value-added distributor, SF Filter also acts as a key link between customers and OES, thereby delivering additional value beyond its traditional intermediary role. SF Filter is based in Bachenbülach, Switzerland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-03 BUKO Traffic & Safety

Amsterdam, Netherlands

BUKO Traffic & Safety operates through two divisions: BUKO Infrasupport and BUKO Waakt. BUKO Infrasupport, founded in 1991, provides outsourced temporary traffic management (OTTM) services, including design, planning, permits, deployment and collection, as well as onsite management of road signage and safety equipment required for roadworks. BUKO Waakt provides temporary remote security solutions, including camera surveillance, burglar alarm systems and access control systems, which are primarily used on construction and maintenance sites in residential and public building projects. BUKO Traffic & Safety is based in Amsterdam, Netherlands.

Buy -
SELLER

Keensight Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 5.5B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Keensight Capital is a private equity investment firm focused on majority and minority growth capital investments in Western European companies. Keensight makes equity investments in a number of situations including the provision of capital to finance growth, either organically or through acquisitions, or the buying out of existing shareholders. The Firm looks to invest €10 to €600 million and will consider business with up to €400 million in revenue. Keensight Capital was formed in 2000 and is based in Paris.


DEAL STATS #
Overall 20 of 24
Sector (Life Science) 1 of 3
Type (Secondary Buyout) 7 of 7
Country (France) 14 of 15
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-28 Axxam

Bresso, Italy

Axxam is an iPRO (innovative Partner Research Organization) and discovery company located in the scientific campus OpenZone. The Company is a provider of discovery services for the entire life sciences industry. Axxam has strong expertise across a broad range of discovery disciplines and innovative technologies, including assay development, compound management, HTS (high-throughput screening) / HCS (high content screening), hit identification and hit validation. Axxam is also engaged in developing novel innovative therapies for diseases with a high unmet medical need. Axxam was founded in 2001 and is based in Bresso, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 Quanos Solutions

Nuremberg, Germany

Quanos Solutions is a provider of software solutions for complex documentation. Quanos Solutions makes software product-accompanying materials such as instructions, data sheets, catalogs, etc. easy to practice. Quanos Solutions was founded in 1995 and is based in Nuremberg, Germany.

Buy -
SELLER

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


DEAL STATS #
Overall 210 of 222
Sector (Life Science) 7 of 8
Type (Secondary Buyout) 80 of 89
Country (France) 103 of 106
Year (2022) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-17 T2O

Madrid, Spain

T2O designs and manages marketing and communication strategies with a results-orientated approach (Paid, Owned, Earned Media, relying always on Technology). Currently has permanent offices in Europe, LATAM, and the US, where is the partner of major brands. Its clients include Barceló Hotel Group, Honda, Unicredit, José Cuervo, Movistar, Nextel, and AXA insurance. T2O was founded in 2004 and is based in Madrid, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-12 Cenexi

Fontenay sous Bois, France

Cenexi engages in the contract manufacturing and packaging of pharmaceuticals for human and veterinary markets in the Americas, Asia, Oceania, Africa, and Europe. Cenexi was founded in 2004 and is based in Fontenay sous Bois, France.

Sell -