M&A Deal Summary

UFG Private Equity, CapMan and The European Bank for Reconstruction and Development Acquire KDL Test

On June 13, 2012, private equity firm UFG Private Equity, private equity firm CapMan and The European Bank for Reconstruction and Development acquired healthcare services company KDL Test

Acquisition Highlights
  • This is UFG Private Equity’s 1st, CapMan’s 3rd and The European Bank for Reconstruction and Development’s 1st transaction in the Healthcare Services sector.
  • This is UFG Private Equity’s 16th, CapMan’s 10th and The European Bank for Reconstruction and Development’s 1st transaction in Russia.
Investment Fate
  • KDL Test was sold to a strategic buyer in 2022.

M&A Deal Summary

Date 2012-06-13
Target KDL Test
Sector Healthcare Services
Buyer(s) UFG Private Equity
CapMan
The European Bank for Reconstruction and Development
Deal Type Buyout (LBO, MBO, MBI)

Target

KDL Test

Moscow, Russia
KDL Test is a chain of private laboratories for medical testing which operates in one of the fastest-growing health sector segments. KDL operates a chain of nine laboratories providing medical diagnostic testing in Moscow, Kazan, Omsk, Perm, Astrakhan, Krasnodar, Volgograd, Saratov and Rostov-on-Don, as well as a chain of blood collection points. KDL Test was established in 2003 and is based in Moscow, Russia.

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Buyer(S) 3

Buyer

UFG Private Equity

Moscow, Russia

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 712M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

UFG Private Equity is a Russian private equity investment firm that also invests in the Ukraine, Belarus and Kazakhstan. UFG looks to invest $15 to $50 million in businesses valued from $20 to $400 million. The Firm does not have any industry preferences, but has a special interest in opportunities in media, IT, telecom, consumer staples, retail and infrastructure related businesses. UFG prefers acquiring controlling stakes, but will consider select minority positions. UFG Private Equity was formed in 2004 and is based in Moscow and is a unit of UFG Asset Management.


DEAL STATS #
Overall 20 of 25
Sector: Healthcare Services M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 16 of 18
Country: Russia M&A 16 of 21
Year: 2012 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-06 Rising Star Media OOO

Moscow, Russia

Rising Star Media (Kinostar de Luxe brand) is a cinema chain in Moscow and St. Petersburg with a total of 75 screens, 4 of which are IMAX. Rising Star Media was founded in 2002 by Sheri Redstone, president of National Amusements (NAI), and Paul Heth, CEO at RSM, in partnership with the National Amusements Inc. Corporation. The joint venture has shortly become one of the key players on the film show market in Russia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-14 Karo Film

Moscow, Russia

Karo Film is a motion picture exhibition company owning and operating 30 modern movie theaters comprising 196 screens in Moscow and the Moscow region, St. Petersburg, Nizhniy Novgorod, Samara, Kazan, Kaliningrad, Yekaterinburg, and Surgut. Karo Film was established in 1997 and is based in Moscow, Russia.

Buy -
Buyer

CapMan

Helsinki, Finland

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 4.9B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CapMan is a private equity group focused on a variety of investments in Scandinavia and Russia. CapMan's buyout group looks to invest €20 to €70 million (€10 to €20 for mezzanine) of capital in unlisted companies generating €50 to €500 million in revenues. CapMan seeks control positions and does not have any sector preferences. CapMan was established in 1989 and has offices in Helsinki, Stockholm, Oslo, Luxembourg, and Moscow.


DEAL STATS #
Overall 40 of 93
Sector: Healthcare Services M&A 3 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 16 of 26
Country: Russia M&A 10 of 16
Year: 2012 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-13 KDL Test

Moscow, Russia

KDL Test is the third largest private laboratory diagnostic services provider in Russia. KDL Test was founded in 2003 and is based in Moscow, Russia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-19 Vital Development

Saint-Petersburg, Russia

Vital Development is a developer, producer and provider of biochemical and immunological reagent test sets, analyzers and equipment used in laboratory analysis. The products are primarily used in public laboratories, to which the company sells mainly through distributors. The majority of the company’s sales are domestic, while 20 percent are generated by exports to CIS and other countries. Vital Development was founded in 1994 and is based in Saint-Petersburg, Russia.

Buy -
Buyer

The European Bank for Reconstruction and Development

London, United Kingdom

Category Company
Founded 1990
Sector Financial Services
DESCRIPTION

The European Bank for Reconstruction and Development is a provider of project financing for banks, industries, and businesses.


DEAL STATS #
Overall 1 of 2
Sector: Healthcare Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
Country: Russia M&A 1 of 1
Year: 2012 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-23 Addiko Bank

Vienna, Austria

Addiko Bank is a universal bank that offers unsecured personal loan products for consumers and working capital loans for its SME customers and is largely funded by retail deposits. Addiko Bank is based in Vienna, Austria.

Buy -