LABEXA acquired by CERBA HEALTHCARE
Context
Cerba HealthCare acquired Labexa following a competitive auction process managed by Oddo BHF, beating out its main rival Biogroup. The acquisition allows Cerba to significantly strengthen its footprint in the French "Nouvelle-Aquitaine" region. The transaction followed Cerba's massive EUR1.2 billion acquisition of Lifebrain in Italy and was finalized shortly after Cerba's own LBO with EQT. The target's biologist-partners opted for an industrial exit to join a major laboratory network.
By taking control of Labexa, Cerba Healthcare continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Lifebrain in 2021.
LABEXA, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, representing a premium to the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
Labexa is a leading medical biology group in the Nouvelle-Aquitaine region, formed through the successive merger of several networks (Exalab, LBA, Sealab, and Accolab Sud-Ouest). It operates 94 sites with 1,000 employees across seven departments in southwestern France. In 2020, the group generated approximately EUR120 million in revenue.
Ent. Value
€300–700M
Equity Value
[members only]
Multiples
EV / Revenue
2x–6x
EV / EBITDA
15x–25x
EV / EBIT
15x–25x
Historical Financials (EUR)
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Other operations with CERBA HEALTHCARE
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 09/2023 | CERBA HEALTHCARE | CIRION BIOPHARMA RESEARCH | CANADA | CRO / Clinical Trials |
| 07/2021 | CERBA HEALTHCARE | LIFEBRAIN | ITALY | Labs (Biology) |
| 03/2021 | EQT PARTNERS | CERBA HEALTHCARE | FRANCE | Labs (Biology) |
| 01/2017 | PARTNERS GROUP / PSP INVESTMENTS | CERBA HEALTHCARE | FRANCE | Labs (Biology) |
| 01/2015 | CERBA HEALTHCARE | NOVESCIA | FRANCE | Labs (Biology) |
| 06/2010 | PAI PARTNERS | CERBA HEALTHCARE | FRANCE | Labs (Biology) |
REFERENCES
Valuation range: EV €300–700M
Revenue range: €100–200M
EBITDA range: €25–50M
EV/Revenue range: 2x - 6x
EV/EBITDA range: 15x - 25x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of LABEXA by CERBA HEALTHCARE are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: cerba healthcare