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M&A

H2 PHARMA

Acquired by

ARDIAN

FRANCE Life Sciences REV [1m EUR - 100m EUR] 10/2020

Target

H2 PHARMA

Acquirer

ARDIAN

Context

Ardian Growth acquired a minority stake in H2 Pharma in its inaugural healthcare investment. The partnership was established to support the company's ambitious industrial scaling, with a production target of 100 million units per year. The strategic roadmap focuses on internationalizing the group's footprint within the European market and diversifying its service offering to include regulatory affairs and analytical control. Ardian provides strategic support to leverage H2 Pharma's automated manufacturing processes and R&D capabilities, aiming to strengthen its position as a preferred CDMO partner for international pharmaceutical laboratories.

This transaction is part of the Healthcare & Pharma industry, which currently tracks an average EBITDA multiple of 13.4x since the beginning of 2026, 1.2% decrease compared to 2025. 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

Founded in 2009, H2 Pharma is a leading French specialist in the design and production of non-sterile liquid generic and OTC medicines (mouthwashes, syrups, oral solutions). A key partner for major pharmaceutical laboratories, the company controls the entire value chain, from R&D and Marketing Authorization (AMM) filings to automated production and regulatory affairs.

Ent. Value

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

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Rev
EBITDA
EBIT
2019
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2018
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Other operations with H2 PHARMA

mynth data is contributed by M&A / PE professionals and systematically cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.