At what enterprise value was Innovad Group acquired in 2021?

You can find the full valuation details of Innovad Group on mynth capital. 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 14.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of Innovad Group when it was acquired by IK PARTNERS?

The exact EV/EBITDA multiple for Innovad Group is available on mynth capital. For comparison, the Healthcare & Pharma sector currently shows an average EBITDA multiple of 14.8x. Join our community for free to access full valuation data and industry trends.

When was Innovad Group acquired by IK PARTNERS?

Innovad Group was acquired by IK PARTNERS in 2021.

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 Innovad Group 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 Innovad Group 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://ikpartners.com/press-release/ik-investment-partners-to-acquire-innovad-group/

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Home Database Healthcare & PharmaInnovad Group

02/2021

IK PARTNERS takes majority stake in Innovad Group

BELGIUM Life Sciences / Animal Health REV 1m EUR - 100m EUR

Context

A leadership succession between founder Jamal Al-Saifi and fellow co-founder Ben Letor anchors the ownership transition under which IK Investment Partners entered exclusive discussions to acquire a majority stake in Innovad Group. Executed through the IK IX Fund, the buyout marks the retirement of the founder and outgoing CEO, while Ben Letor assumes the Chief Executive Officer role and reinvests substantially alongside the incumbent management team and the incoming private equity sponsor. The perimeter of the transaction encompasses the concurrent acquisition of Add-Co Nutrition, an Italian feed additives producer specialized in natural pigments and concentrates, which becomes a wholly owned subsidiary of the Innovad Group. At the time of the agreement, Innovad employs over 80 people globally, including specialized veterinarians and nutritionists, and serves more than 200 customer accounts across 65 countries. Over the preceding decade, the company sustained double-digit annual revenue growth through organic expansion, targeted add-on acquisitions, and joint ventures. The investment thesis formulated by IK centers on expanding Innovad's positioning across premium intestinal health and mycotoxin stress control additives, scaling global commercial distribution, and executing further strategic add-on acquisitions within the fragmented animal nutrition sector. Completion of the transaction remains subject to customary legal and regulatory approvals.

Innovad Group, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Healthcare & Pharma sector (14.8x).

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

Innovad Group is a globally operating supplier of specialty additives for animal feed, concentrating on poultry, ruminant and swine species. Its portfolio comprises high‑value solutions that support gut health, mycotoxin mitigation and immune function, with a pronounced emphasis on phytogenic and biomonitoring technologies. Headquartered in Antwerp, Belgium, the company serves roughly 900 customers across 75 markets. Production capacity is vertically integrated through three owned facilities in Belgium, Brazil and Italy, complemented by toll‑manufacturing partnerships in Switzerland and Italy. Innovad’s R&D platform drives the development of novel nutraceutical ingredients and a proprietary mycotoxin biomonitoring tool. The firm pursues organic expansion, strategic acquisitions and continuous enhancement of its development platform to reinforce its position as a leading specialist in animal nutrition additives.

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List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
08/2025	PAI PARTNERS	Innovad Group	BELGIUM	Life Sciences	A control buyout transaction has been agreed by private equity firm PAI Partners to acquire Innovad Group from IK Partners, initiating the next strategic expansion cycle for the specialty animal feed additives business. The transaction provides a full monetization event for the seller's IK IX Fund, which held its equity position since 2021. In conjunction with the buyout, the incumbent leadership team headed by Chief Executive Officer Ben Letor is reinvesting alongside the incoming financial sponsor to ensure management continuity and execute the long-term roadmap
04/2023	Innovad Group	Herbonis	SWITZERLAND	Life Sciences	Strengthening its strategic focus on natural specialty feed ingredients, Belgium-based Innovad, backed by its financial sponsor IK Partners through the IK IX Fund, has completed the acquisition of 100% of the share capital of Swiss company Herbonis along with its affiliates, including UK-based Wyreside. This targeted build-up transaction aligns with Innovad's investment thesis to expand into primary botanical ingredients and establish a global center of excellence in phytogenics and animal biomonitoring

REFERENCES

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Authors: verified 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: innovad group

Acquirer: ik partners