ANTIN INFRASTRUCTURE takes majority stake in EMSERE
Context
Antin Infrastructure Partners, executing through its Mid Cap Fund I, has entered into a definitive agreement with Dutch family office and investment platform Gryphion to acquire 100% of Emsere. The transaction, which represents the eighth investment completed by Antin's dedicated mid-cap vehicle, is scheduled to close in the first quarter of 2026. The corporate buyouts' advisory perimeter included Macquarie as financial adviser and Loyens & Loeff as legal adviser to Antin, while Gryphion was backed by Moelis as financial adviser and DLA Piper as legal adviser. The acquisition thesis frames the clinical trial equipment rental space as an institutional healthcare infrastructure play, characterized by favorable long-term macroeconomic trends and high structural barriers to entry. The strategic rationale centers on capitalizing on the rapid growth of innovative clinical research endpoints, which drive outsourcing demands and require highly complex, specialized medical equipment and lifecycle service solutions.
EMSERE, which reported an EBITDA margin of LOGIN in 2026, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Healthcare & Pharma sector (14.8x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Emsere is a global leader in clinical trial equipment rental, providing mission-critical medical equipment and specialized logistics solutions for contract research organizations and pharmaceutical companies worldwide. Founded in 1996, Emsere is headquartered in Leiden, the Netherlands, and offers a comprehensive range of medical equipment, including centrifuges, vital signs devices, cardiovascular and respiratory monitoring machines, imaging devices, and cardio-pulmonary exercise testing equipment. With over 13,000 pieces of equipment in its portfolio, Emsere delivers to over 100 countries through its own distribution centers and third-party relationships, making it a globally consolidated solution for all clinical trial equipment needs. Emsere's customers include six of the top 10 global pharmaceutical companies and seven of the top 10 contract research organizations globally. Emsere is well-positioned in the fast-growing clinical trial equipment rental market, which continues to expand driven by increasing demand for outsourcing and the growing need for more complex equipment and service solutions to keep pace with innovative and evolving clinical research endpoints.
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Historical Financials (EUR)
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REFERENCES
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: emsere
Acquirer: antin infrastructure