At what enterprise value was HTL BIOTECHNOLOGY acquired in 2022?

You can find the full valuation details of HTL BIOTECHNOLOGY on mynth capital. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Healthcare & Pharma industry currently tracks an average EBITDA multiple of 13.4x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of HTL BIOTECHNOLOGY when it was acquired by MONTAGU PRIVATE EQUITY / PARTNERS GROUP?

The estimated EV/EBITDA multiple for HTL BIOTECHNOLOGY is in the range of Above 20x. For comparison, the Healthcare & Pharma sector currently shows an average EBITDA multiple of 13.4x. Join our community for free to access full valuation data and industry trends.

What was the EBITDA of HTL BIOTECHNOLOGY during the acquisition?

HTL BIOTECHNOLOGY's EBITDA is estimated to be in the range of 50M - 100M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the HTL BIOTECHNOLOGY acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the HTL BIOTECHNOLOGY deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://htlbiotech.com/wp-content/uploads/2024/01/20220208-htl-announces-montagu-as-new-investor.pdf

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Home Database Healthcare & PharmaHTL BIOTECHNOLOGY

02/2022

HTL BIOTECHNOLOGY

Acquired by

MONTAGU PRIVATE EQUITY & PARTNERS GROUP

FRANCE Life Sciences / Pharma & Biotech / CDMO EV 1b - 4b EUR

HTL BIOTECHNOLOGY acquired by MONTAGU PRIVATE EQUITY & PARTNERS GROUP

FRANCE Life Sciences / Pharma & Biotech / CDMO EV 1b - 4b EUR

Context

This transaction marks the third leveraged buyout for HTL Biotechnology, with Montagu Private Equity entering into exclusive negotiations to acquire a majority stake from Bridgepoint. Partners Group joined Montagu as a co-investor in this operation, while the existing management team remains significantly involved in the capital. The strategic rationale for this LBO is to accelerate HTL,s transformation from a specialized hyaluronic acid producer into a diversified, global biopolymer platform. Under the previous ownership, the company significantly expanded its R&D capabilities, doubled its production capacity with a €50M industrial investment, and established a strong presence in the US and Chinese markets. Key to this new phase of growth is a major partnership with Eirion Therapeutics, positioning HTL as the exclusive manufacturer of a novel botulinum toxin using its proprietary fermentation process. Montagu intends to leverage its healthcare expertise to further the group,s internationalization and portfolio diversification, particularly in high-growth segments like tissue engineering. The acquisition is supported by a significant unitranche financing package, reflecting the strong cash-flow generation and premium positioning of the asset in the pharmaceutical supply chain.

HTL BIOTECHNOLOGY, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Healthcare & Pharma sector (13.4x).

Note that 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 the late 20th century, HTL is a leading global biotechnology company specializing in the development, production, and purification of pharmaceutical-grade hyaluronic acid and other bio-sourced polymers. Based in Brittany, the company utilizes advanced fermentation and purification processes to supply high-purity ingredients to the global healthcare industry. Its value proposition is centered on technical excellence and the ability to provide customized molecular weights for sensitive medical applications, including dermatology for wrinkle filling, ophthalmology for cataract surgery, and rheumatology for joint treatments. HTL,s strategy focuses on continuous innovation through significant R&D investments and the expansion of its industrial capacities to maintain a leadership position in the high-end biopolymer market. By maintaining a discreet but critical role in the pharmaceutical supply chain, the company ensures that global medical device and pharma manufacturers have access to safe, natural, and highly effective components for life-changing medical treatments.

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Other operations with HTL BIOTECHNOLOGY

Date	Acquirer	Target	Country	Sector	Deal Context
10/2018	BRIDGEPOINT	HTL BIOTECHNOLOGY	FRANCE	Life Sciences	Bridgepoint has acquired a majority stake in HTL, the specialized producer of hyaluronic acid, in a secondary LBO transaction from Naxicap Partners. This operation follows a period of rapid development under the previous sponsor, which had orchestrated a management buy-in (MBI) only eighteen months prior. In this new capital structure, Naxicap Partners retains a significant minority interest, signaling continued confidence in the company's growth trajectory and industrial potential. The rationale for the transaction is rooted in HTL,s exceptional profitability and its unique position in a high-barrier-to-entry niche of the biotechnology sector. With Bridgepoint,s support, HTL aims to accelerate its international transformation, moving beyond its historical European stronghold to capture market share in North America and Asia.

REFERENCES

Valuation range: EV 1b - 4b EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of HTL BIOTECHNOLOGY by MONTAGU PRIVATE EQUITY / PARTNERS GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: htl biotechnology

Acquirer: montagu private equity / partners group