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  5. NiXEN Partners, Sagard, IDIA Capital Investissement, Merieux Equity Partners and Ardian Acquire CEVA

M&A Deal Summary

NiXEN Partners, Sagard, IDIA Capital Investissement, Merieux Equity Partners and Ardian Acquire CEVA

On April 25, 2007, private equity firm NiXEN Partners, asset manager Sagard, corporate investor IDIA Capital Investissement, growth capital firm Merieux Equity Partners and private equity firm Ardian acquired life science company CEVA from IK Partners and ICG

Acquisition Highlights
  • This is NiXEN Partners’ 1st, Sagard’s 1st, IDIA Capital Investissement’s 2nd, Merieux Equity Partners’ 1st and Ardian’s 3rd transaction in the Life Science sector.
  • This is NiXEN Partners’ 13th, Sagard’s 14th, IDIA Capital Investissement’s 15th, Merieux Equity Partners’ 1st and Ardian’s 51st transaction in France.

M&A Deal Summary
Date 2007-04-25
Target CEVA
Sector Life Science
Buyer(s) NiXEN Partners
Sagard
IDIA Capital Investissement
Merieux Equity Partners
Ardian
Sellers(s) IK Partners
ICG
Deal Type Secondary Buyout

Target

CEVA

Libourne, France
CEVA is a veterinary health company focused on the research, development, production and marketing of pharmaceutical products and vaccines for pets, livestock, swine, and poultry. CEVA was founded in 1999 and is based in Libourne, France.

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Buyer(S) 5

Buyer

NiXEN Partners

Paris, France

Investor 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 13 of 30
Sector: Life Science M&A 1 of 2
Type: Secondary Buyout M&A Deals 1 of 8
Country: France M&A 13 of 29
Year: 2007 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-06 Saur

Issy-les-Moulineaux, France

Saur is a drinking and wastewater management company focused on small/mid-sized cities across France. The company is also active internationally, particularly in Iberia, Saudi Arabia, and Poland. Saur was founded in 1933 and is based in Issy-les-Moulineaux, France.

Sell €2.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-31 Demos Group

Paris, France

Demos Group is an education company focused on providing an actual person to person training and distance learning. The company has developed innovative and complementary training methods such as e-learning. Demos Group was formed in 1972 and is based in Paris.

Sell -
Buyer

Sagard

Paris, France

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2001
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Sagard is a multi-strategy alternative investment manager that invests across a variety of asset classes. These include private equity, public equity, private credit, royalties, and venture capital. Prospective transactions typically include buyouts or growth capital financings, where Sagard will consider either majority or minority positions. Sagard was formed in 2001 and is based in Montreal, Quebec.

DEAL STATS #
Overall 16 of 41
Sector: Life Science M&A 1 of 2
Type: Secondary Buyout M&A Deals 6 of 17
Country: France M&A 14 of 34
Year: 2007 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 Médi-Partenaires SAS

Paris, France

Médi-Partenaires is the third largest group of private clinics in France, with 3% market share and 14 clinics focusing on obstetrics, surgery and medicine care.

Sell €600M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-20 FlaktGroup

Herne, Germany

FlaktGroup is a provider of ventilation and air climate solutions for buildings as well as air movement solutions for industry and infrastructure applications. Flakt has built up expertise in applications by delivering BREEAM, LEED, DGNB or HQE solutions for major projects for: offices, hotels, hospitals, airports, and commercial construction projects including specialist applications like data-centers, pharmaceutical, marine, nuclear, oil and gas all over the world. FlaktGroup was formed in 2002 and is based in Herne, Germany.

Buy €460M
Buyer

IDIA Capital Investissement

Paris, France

Investor Investor Investor Investor Investor

Category Corporate Investor
Founded 1980
PE ASSETS 2.9B EUR
Size Large
Type Sector Focused
DESCRIPTION

IDIA Capital is a long-term agroindustry investor. Specific areas of interest include sectors related to the food industry, wine, agriculture production, and forestry. IDIA typically provides growth capital and can commit €1 to €50 million per transaction. IDIA is a unit of Credit Agricole Group’s Private Equity & Finance Division. The Firm is based in Paris.

DEAL STATS #
Overall 15 of 114
Sector: Life Science M&A 2 of 5
Type: Secondary Buyout M&A Deals 1 of 18
Country: France M&A 15 of 112
Year: 2007 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Lafite

Bordeaux, France

Lafite is an operator of a vineyard. Lafite was founded in 1999 and is based in Bordeaux, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Avril Group

Paris, France

Avril Group is an agro-industrial group, specialising in human nutrition, animal nutrition, renewable chemistry, and renewable energy. Avril Group was founded in 1983 and is based in Paris, France.

Buy -
Buyer

Merieux Equity Partners

Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2009
PE ASSETS 1.5B EUR
Size Large
Type Sector Focused
DESCRIPTION

Mérieux Développement SAS is a venture and growth capital investment firm associated with family holding company Institut Mérieux. The Firm focuses on the health and nutrition sectors and will consider opportunities throughout North America and Europe. Mérieux Développement SAS was established in 2009 and is headquartered in Lyon, France.

DEAL STATS #
Overall 1 of 24
Sector: Life Science M&A 1 of 11
Type: Secondary Buyout M&A Deals 1 of 6
Country: France M&A 1 of 14
Year: 2007 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-23 Lavorel Medicare

Lyon, France

Lavorel Medicare is a service provider specialized in nursing care at home or in special care units. Lavorel Medicare was founded in 2012 and is based in Lyon, France.

Buy -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B 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 €1 billion 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 84 of 464
Sector: Life Science M&A 3 of 17
Type: Secondary Buyout M&A Deals 22 of 155
Country: France M&A 51 of 206
Year: 2007 M&A 10 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-19 Keolis SA

Paris, France

Kéolis SA manages passenger transport networks for the account of local authorities and private contractors: buses, cars, subways, tramways, trolley buses, ferry networks, and maritime links.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-26 Alliance Boots

Zug, Switzerland

Alliance Boots GmbH is an international pharmacy-led health and beauty group. Alliance Boots' pharmacy-led health and beauty retail businesses now operate more than 3,330 health and beauty retail stores in 11 countries and its pharmaceutical wholesale businesses supply medicines, other healthcare products and related services to more than 170,000 pharmacies, doctors, health centers and hospitals in 21 countries.

Buy -

Seller(S) 2

SELLER

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 Partners is a private equity firm that targets control investments in lower middle-market to large-sized companies throughout Europe. 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 €10 to €300 million of equity capital per transaction and targets companies with strong cash-flows. IK Investment Partners was formerly known as Industry Kapital. IK Partners was formed in 1989 and is based in London, England.

DEAL STATS #
Overall 42 of 122
Sector: Life Science M&A 1 of 3
Type: Secondary Buyout M&A Deals 8 of 51
Country: France M&A 4 of 27
Year: 2007 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-26 Myresjöhus AB

Vetlanda, Sweden

Myresjöhus is a prefabricated house manufacturers in Sweden.

Sell kr1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-08 Elektrokoppar AB

Helsingborg, Sweden

Elektrokoppar is a winding wire and wire rod manufactures in Europe. The company supplies its products mainly to the electric industries.

Sell -
SELLER

ICG

London, United Kingdom

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 33.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.

DEAL STATS #
Overall 81 of 225
Sector: Life Science M&A 3 of 9
Type: Secondary Buyout M&A Deals 29 of 86
Country: France M&A 25 of 59
Year: 2007 M&A 7 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-10 Ethypharm

SaintCloud, France

Ethypharm is a Drug Delivery System (DDS) company. The company develops and manufactures medicinal products specialising in controlled release products. Drug Delivery Systems provide major benefits including improving the drug efficacy, enhancing patient compliance and comfort, extending the life cycle of existing drugs, and reducing the total cost of treatment. Ethypharm was founded in 1977 and is based in SaintCloud, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-26 Veda Group

Sydney, Australia

Veda Group Ltd. is a provider of credit information and analysis in Australia and New Zealand. Veda delivers a suite of credit and other analytical products targeted to specific industry segments.

Buy $659M
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