CEVA SANTE ANIMALE acquired by TETHYS INVEST / PSP INVESTMENTS / MITSUI & CO
Context
Ceva Sante Animale completed a historic "Jumbo LBO". This transaction allowed the management team (800+ executives) to retain over 50% of the capital—a record for a deal of this size in France (comparable only to the Legrand buyout in 2002). Four new long-term investors joined the "Friends of Ceva" consortium: Tethys Invest, PSP, Mitsui, and Klocke. Historical investors, led by Temasek, significantly reinvested their proceeds.
It is worth noting that the fund Institut Merieux / Sagard / Sofiproteol took control of Ceva Sante Animale through an LBO in 2014.
CEVA SANTE ANIMALE, which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, representing a premium to the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
Ceva is the 5th largest animal health company in the world. Headquartered in Libourne, it employs 7,000 people in 47 countries. The group balances its activity between preventive medicine (vaccines) and pharmaceutical products for poultry, swine, ruminants, and pets (30% of sales). It invests ~10% of revenue in R&D.
Ent. Value
€1–10bn
Equity Value
[members only]
Multiples
EV / Revenue
2x–6x
EV / EBITDA
15x–25x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with CEVA SANTE ANIMALE
Other operations with CEVA SANTE ANIMALE
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 04/2025 | INSTITUT MERIEUX / ARCHIMED | CEVA SANTE ANIMALE | FRANCE | Animal Health |
| 09/2014 | INSTITUT MERIEUX / SAGARD / SOFIPROTEOL | CEVA SANTE ANIMALE | FRANCE | Animal Health |
Similar deals in Life Sciences
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 04/2020 | AMERICAN SECURITIES | PARAGON MEDICAL | UNITED STATES | Medical Devices |
| 03/2020 | LBO FRANCE | DUTSCHER | FRANCE | Medical Consumables |
| 02/2020 | PERRIGO COMPANY | HIGH RIDGE BRANDS (ORAL CARE PORTFOLIO) | UNITED STATES | Generics / Labs |
| 10/2019 | DENTRESSANGLE | MARLE GROUP | FRANCE | Implants & Prosthetics |
| 09/2019 | SAGARD | STERIMED | FRANCE | Medical Consumables |
| 08/2019 | PERMIRA | CAMBREX CORPORATION | UNITED STATES | CDMO |
| 07/2019 | 3I | IONISOS | FRANCE | CDMO |
| 07/2019 | PERMIRA | QUOTIENT SCIENCES | UNITED KINGDOM | CDMO |
| 07/2019 | BC PARTNERS | Synthon International | NETHERLANDS | Generics / Labs |
| 05/2019 | ARDIAN | SINTETICA | SWITZERLAND | Pharma & Biotech |
Other operations with TETHYS INVEST / PSP INVESTMENTS / MITSUI & CO
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 03/2020 | TETHYS INVEST / CPPIB (CANADA PENSION PLAN INVESTMENT BOARD) / MONTAGU PRIVATE EQUITY | GALILEO GLOBAL EDUCATION | FRANCE | Education Providers |
| 04/2018 | TETHYS INVEST | GALILEO GLOBAL EDUCATION | FRANCE | Education Providers |
REFERENCES
Valuation range: EV €1–10bn
Revenue range: €1–10bn
EBITDA range: €250–500M
EV/Revenue range: 2x - 6x
EV/EBITDA range: 15x - 25x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CEVA SANTE ANIMALE by TETHYS INVEST / PSP INVESTMENTS / MITSUI & CO are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: ceva sante animale
Acquirer: mitsui & co / psp investments / tethys invest