IMANEO acquired by PARQUEST CAPITAL

Quadrivio Group has acquired a majority stake in The Private Clinic from BlueGem Capital Partners to serve as a platform for its "Silver Economy" strategy. The industrial logic is anchored in the "healthy longevity" megatrend: as the population ages, demand for aesthetic and wellness treatments among the affluent over-50s is booming. The transaction was structured as a simultaneous "Buy-and-Build" play, as TPC acquired four smaller clinics specializing in cosmetic medicine at closing to immediately scale its footprint. Quadrivio aims to use TPC to consolidate the highly fragmented aesthetic market in the UK and plans to export this business model to Italy and broader Europe, where similar consolidation opportunities exist.

MEDIAN Group, backed by Waterland Private Equity, acquired Hestia Alliance, one of Spain's largest private post-acute and mental health care providers, marking MEDIAN's first entry into the Spanish healthcare market. The transaction received regulatory approval prior to the public announcement. The acquisition is part of MEDIAN's continued internationalisation strategy following its earlier expansion into the UK through the acquisition of Priory Group in 2021. The combination of MEDIAN, Priory, and Hestia creates a pan-European post-acute and mental health platform spanning Germany, the United Kingdom, and Spain.

Ardian acquired a minority stake (approximately 20%) in Mon Veto through a primary capital increase. This "pure cash-in" operation was designed to strengthen the group's equity base without any cash-out for the founding veterinarians. The transaction supports Mon Veto's aggressive buy-and-build strategy in a rapidly consolidating European market. The partnership aims to accelerate the group's domestic expansion and facilitate its entry into highly fragmented international markets, such as Italy and Spain. The existing unitranche debt facility provided by Barings was maintained and extended to support future external growth, ensuring the group remains a top independent contender against large international corporate aggregators.

CBPE Capital has completed a majority investment in Veincentre, acquiring the stake previously held by Palatine Private Equity alongside the company,s founders. This transaction marks a secondary LBO for the specialist clinic group, which saw significant growth under Palatine,s three-year ownership, including the expansion from 7 to 22 clinics. The deal was structured to support the current management team, led by CEO Maurice McLoughlin, in the next phase of their national expansion strategy. The rationale for the acquisition is rooted in the high demand for specialized outpatient vascular services in the UK and Veincentre,s proven, scalable clinical model. CBPE intends to leverage its extensive experience in multi-site healthcare to further increase the group's clinic density across the UK. The operation was supported by a debt advisory from FRP Advisory and commercial due diligence from Candesic.

Eurazeo has partnered with Bpifrance to complete a major investment of over EUR 50 million in Imapole. This investment marks a strategic turning point in the professionalization of regional medical imaging groups in France. The strategic rationale for this transaction centers on a "platform-build" play, merging the group’s practitioner-led operational depth with the sponsors' extensive expertise in healthcare scaling and digital transformation. This structural alignment provides the organization with the institutional capital and strategic hardware required to address the high demand for imaging capacity in under-served areas.

Freeman Spogli & Co. made a significant investment in EverVet Partners, partnering alongside existing investor Tailwind Capital while EverVet's founders and management retained meaningful equity stakes. The transaction provided growth capital to accelerate EverVet's expansion in the consolidating U.S. veterinary services market. The deal made strategic sense because EverVet's veterinarian-led platform model aligned perfectly with Freeman Spogli's consumer services expertise, while Tailwind's foundational support transitioned into continued partnership. EverVet selected Freeman Spogli for their track record scaling healthcare and consumer brands through organic growth and M&A. The timing capitalized on strong industry tailwinds including pet ownership growth and veterinary workforce shortages, positioning EverVet to capture market share through targeted acquisitions and organic initiatives.

InfraVia Capital Partners acquired a minority stake in Univet from Platina Equity Solutions, which had been a partner since 2018. The transaction was structured as a combination of secondary share purchases and a primary capital increase, financed entirely through equity from InfraVia's EUR5 billion European Fund V. The founding management and associated veterinarians retained the majority of the capital. The investment is intended to accelerate Univet's buy-and-build strategy, supporting its ambition to reach EUR100 million in revenue by the end of 2022. This deal highlights the trend of infrastructure funds entering the veterinary sector, attracted by the predictable, recurring nature of animal healthcare services and the massive potential for market consolidation.

R�sonance Imagerie, a prominent French medical imaging group, has secured a major financing package from Andera MidCap, Ardian Private Debt, and Five Arrows Debt Partners. Established in 2011, the group currently operates a network of 15 centers across Paris, �le-de-France, and the Centre-Val-de-Loire region, managing 23 high-tech units including MRIs and scanners.

Latour Capital and Bpifrance acquired a majority stake in Hygie31, the holding company of Pharmacie Lafayette, from Five Arrows (Rothschild & Co). The deal aims to accelerate the group's development in France and Europe through organic growth and an ambitious buy-and-build strategy.

Triton Partners, via its Triton Smaller Mid Cap Fund II, acquired a majority stake in Esperi Care Oy from a consortium of its former creditors, including Danske Bank, SEB, and Ilmarinen, which remain as minority shareholders. The transaction implies a majority control transfer while preserving continuity of public‑sector and employee‑management relationships, with Triton committing to a substantial capital investment to support further service development and operational improvements. The strategic rationale is rooted in Esperi Care’s established position, business model built on recurring and contract‑based care fees, strong regulatory and societal mandate. Triton’s Nordic healthcare expertise, demonstrated through prior investments in Aleris, Ambea, and Mehiläinen, is expected to support the professionalization of care concepts, standardization of operating models, and expansion of service quality without compromising social‑care objectives.