IMV TECHNOLOGIES acquired by MONTAGU PRIVATE EQUITY
Context
Montagu Private Equity entered into exclusive negotiations to acquire a majority stake in IMV Technologies from Qualium Investissement. Montagu prevailed in a competitive process against CVC Capital Partners. This transaction marks the fifth LBO for the company, which was previously backed by Idi, Ofi Private Equity, and Sparring Capital. The deal underpins the company's leadership in the niche market of animal genetics and its strong export capabilities.
In the past, the company had already been the subject of several LBOs, notably led by Sparring Capital in 2010 and Qualium in 2014. This succession of buyouts highlights the strong attractiveness of the company's business model.
IMV TECHNOLOGIES, which reported an EBITDA margin of in 2020, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
IMV Technologies is the world leader in reproduction biotechnologies for livestock (primarily bovine and porcine). The company designs and manufactures equipment and consumables (plastic straws) for artificial insemination. It holds a dominant position with over 50% global market share in bovine packaging. 85% of its revenue is generated internationally across 120 countries.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with IMV TECHNOLOGIES
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 11/2014 | QUALIUM | IMV TECHNOLOGIES | FRANCE | R&D Biotech |
| 09/2010 | SPARRING CAPITAL | IMV TECHNOLOGIES | FRANCE | R&D Biotech |
REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 100M - 200M EUR
EBITDA range: 10M - 30M EUR
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Press release: view release
Target: imv technologies
Acquirer: montagu private equity