Nextstage & IK Partners take majority stake in Eurobio Scientific

FRANCE Life Sciences / Medical Devices / Diagnostic Equipment EV €100–350M

Context

EB Development (Consortium: NextStage AM & IK Partners) has successfully concluded its takeover bid for Eurobio Scientific, following the results of a reopened offer period. The consortium now holds 88.92% of the share capital and voting rights (including treasury shares). The offer was initiated to take the company private and provide the management team, led by Denis Fortier, with the flexibility to pursue an aggressive external growth strategy. While the bid secured a significant majority, the final participation fell just short of the 90% threshold required for a mandatory squeeze-out (retrait obligatoire). Consequently, the conditional additional price of €1.25 per share (linked to reaching the 90% mark) will not be paid to tendering shareholders. Despite remaining listed for the time being, the transaction effectively shifts Eurobio into a "private-equity-backed" development phase, allowing for deeper consolidation of the European in vitro diagnostics market.

Eurobio Scientific, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.

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Target

Eurobio Scientific is a leading French player in the field of in vitro diagnostics (IVD) and "intelligent health." The company’s business model is vertically integrated, encompassing the design, development, and commercialization of specialty diagnostic kits alongside the distribution of high-end reagents and equipment for clinical laboratories and research centers. A key pillar of its value proposition is its focus on high-added-value proprietary products, reinforced by strategic acquisitions such as the 2022 purchase of GenDx, a global leader in HLA typing for transplant compatibility. Eurobio Scientific played a critical role in the post-Covid diagnostic landscape by shifting its focus toward proprietary innovation and international expansion. Operating as an "ETI" (Intermediate-Sized Enterprise), the company leverages its deep technical expertise to serve the transplantation, infectious diseases, and oncology markets, aiming to become a pan-European leader in specialized diagnostics.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2024

2023

Other operations with Nextstage / IK Partners

Other operations with Nextstage / IK Partners
Date	Acquirer	Target	Country	Sector
03/2025	IK PARTNERS	SEVENTEEN GROUP	UNITED KINGDOM	Insurance
02/2025	IK PARTNERS	HSL COMPLIANCE	UNITED KINGDOM	TIC (Testing, Inspection, Certification)
12/2024	IK PARTNERS	DAINS ACCOUNTANTS	UNITED KINGDOM	Accounting & Audit
12/2024	IK PARTNERS	DRIESCHER	GERMANY	Electrical Equipment
10/2024	NEXTSTAGE	PEERSGROUP	FRANCE	Strategy & Management
08/2024	IK PARTNERS	OCTIME GROUP	FRANCE	ERP, HR & Finance
07/2024	IK PARTNERS	SANSIDOR	NETHERLANDS	TIC (Testing, Inspection, Certification)
03/2024	IK PARTNERS	CHECKMATE FIRE	UNITED KINGDOM	Security & Guarding
02/2024	IK PARTNERS	EUROFEU	FRANCE	Safety & Security
06/2023	IK PARTNERS	GOODLIFE FOODS	NETHERLANDS	Food Products

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REFERENCES

Valuation range: EV €100–350M

Revenue range: €100–200M

EBITDA range: €5–25M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Eurobio Scientific by Nextstage / IK Partners 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.

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Eurobio Scientific, a French company specialised in Medical Devices, by Nextstage and IK Partners in 2024.

How was the acquisition of Eurobio Scientific by Nextstage valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €100–350M band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Eurobio Scientific’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Eurobio Scientific generated annual revenue estimated in the €100–200M range and EBITDA in the €5–25M bracket (FY 2024). Detailed financial figures are available to members.

What sources support the information on this transaction?

Information on this transaction is supported by three corroborating sources: an official corporate announcement published by the parties, independent reporting from specialized financial publications, as well as a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

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