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11/2024MajorityLBO

Naxicap Partners takes majority stake in Global D

FRANCE Life Sciences / Medical Devices / Implants & Prosthetics EV €100–350M

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.

The acquisition of Global D is part of the growth strategy of Naxicap Partners, which already has several external growth operations under its belt, notably Ital Express in 2024.

Global D, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 15x–25x.

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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.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

15x–25x

EV / EBIT

Above 20x

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€25–50M
€5–25M
€5–25M
2023
€25–50M
€5–25M
€5–25M

Other operations with Naxicap Partners

Other operations with Naxicap Partners
DateAcquirerTargetCountrySector
05/2024NAXICAP PARTNERSITAL EXPRESSFRANCEB2B Specialized Distribution
04/2021NAXICAP PARTNERSLAGARRIGUEFRANCEImplants & Prosthetics
10/2020NAXICAP PARTNERSEUREKA EDUCATIONFRANCEEducation Providers
09/2019NAXICAP PARTNERSSIBLU VILLAGESFRANCEHotels & Accommodation
07/2019NAXICAP PARTNERS / ARDIANEMERAFRANCENursing Homes
12/2016NAXICAP PARTNERSECF GROUPFRANCEHospitality Supplies
07/2016NAXICAP PARTNERSSTELLIANTFRANCEInsurance
01/2016NAXICAP PARTNERSACOLADFRANCEDocument Management
07/2014NAXICAP PARTNERSSUD ROBINETTERIE INDUSTRIEFRANCEValves, Pumps & Taps
09/2011NAXICAP PARTNERSSUSHI SHOP GROUPFRANCERestaurants / Chains

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REFERENCES

Valuation range: EV €100–350M

Revenue range: €25–50M

EBITDA range: €5–25M

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 Global D by Naxicap 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 Global D, a French company specialised in Medical Devices, by Naxicap Partners in 2024, structured as a leveraged buyout (LBO).

How was the acquisition of Global D by Naxicap Partners valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €100–350M band, its EV/EBITDA multiple within the 15x - 25x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were Global D’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Global D generated annual revenue estimated in the €25–50M 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?

Transaction intelligence is supported by independent reporting from specialized financial publications, alongside a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

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