GLOBAL D acquired by NAXICAP PARTNERS
Context
Naxicap Partners has acquired a majority stake (over 60%) in Global D, marking the company’s first independent LBO following its carve-out from the Menix Group. The remaining capital is held by a dozen managers led by the executive team. The transaction follows a competitive auction process and includes a financing package provided by Capza (unitranche and PIK debt) alongside a capex line from Banque Palatine. This strategic "independence" move follows the parent group's divestment of other assets to industrial giants. The rationale for this new cycle is to support the firm’s internationalization and active buy-and-build strategy, targeting niche acquisitions with revenues between 5 million and 20 million euros to complement its existing technology and geographic reach.
GLOBAL D, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (14.5x).
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Target
Founded in 2012 and based in Lyon, Global D is a leading French manufacturer of medical devices specializing in dental implantology and maxillofacial surgery. The company’s business model focuses on high-precision engineering and clinical support for over 15,000 clients, primarily private implantologists, dentists, and specialized surgical units in hospitals and clinics. Its product portfolio covers the entire range of dental reconstruction and facial bone repair. With a strong domestic leadership (70% of sales), the firm also operates subsidiaries in Poland and Italy and distributes its specialized medical devices in 30 countries globally. Its value proposition is built on technical innovation and deep expertise in the niche segment of bone integration and dental aesthetics.
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REFERENCES
Valuation range: EV 100M - 350M EUR
Revenue range: 25M - 50M EUR
EBITDA range: 5M - 25M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: naxicap partners