IMV TECHNOLOGIES
Acquired by
MONTAGU PRIVATE EQUITY
IMV TECHNOLOGIES acquired by MONTAGU PRIVATE EQUITY
Target
IMV TECHNOLOGIES
Acquirer
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.
IMV TECHNOLOGIES, which reported an EBITDA margin of LOGIN in 2020, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 12.8x average currently observed in the Healthcare & Pharma sector.
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
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
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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)
Other operations with IMV TECHNOLOGIES
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 11/2014 | QUALIUM | IMV TECHNOLOGIES | FRANCE | R&D Biotech | Qualium Investissement won the auction process to acquire IMV Technologies, beating competitors LBO France and Florac. This transaction ends the tenure of Pragma Capital (majority owner since 2010), as well as minority investors Cathay Capital and Eurazeo PME. The acquisition is supported by a unitranche debt facility provided by Ardian, representing a leverage of over 5.0x EBITDA. The strategic focus remains on international expansion. |
| 09/2010 | SPARRING CAPITAL | IMV TECHNOLOGIES | FRANCE | R&D Biotech | OFI Private Equity Capital announced the sale of its majority stake in IMV Technologies to Pragma Capital (Renamed Sparring Capital). OFI PE retains a minority stake of 11% by reinvesting EUR5 million alongside the management team led. The transaction concludes a 3-year holding period during which the company accelerated its external growth and opened a new industrial site. |
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