Home Database Healthcare & PharmaLaboratoires Anios

10/2013MajorityLBO

Ardian takes majority stake in Laboratoires Anios

FRANCE Life Sciences / Medical Devices / Medical Consumables EV €300–700M

Context

Air Liquide has entered into exclusive negotiations to sell its 66% majority stake in Laboratoires Anios to a consortium comprised of Ardian and the founding Letartre brothers, Bertrand and Thierry. This transaction represents a strategic spin-off for Air Liquide, allowing the industrial gas giant to refocus its hygiene activities exclusively on its German subsidiary, Schülke & Mayr. The acquisition is structured with an LBO featuring a senior debt facility and an important CAPEX line to fund future growth. The financing reflects a leverage effect of 4.0x to 5.0x EBITDA. The primary strategic rationale for the new ownership is to accelerate Anios's international footprint, particularly through M&A opportunities in emerging markets such as Brazil, India, and China, moving the company toward a more globalized operational model.

By taking control of Laboratoires Anios, Ardian continues its expansion strategy. Previously, the group had completed 3 acquisitions, including Novacap in 2010.

Laboratoires Anios, which reported an EBITDA margin of [members only] in 2012, is valued in this transaction at an EV/EBITDA multiple of 5x–12x.

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Target

Founded by the Letartre family and based in Lille, Laboratoires Anios is a European leader in the hygiene and disinfection sector for hospitals, clinics, and industrial environments. The company provides holistic solutions for medical device disinfection, including endoscope washer-disinfectors, as well as products for the food and professional cleaning industries. Its business model integrates high-intensity R&D with specialized chemical manufacturing across international sites.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2012

2011

Other operations with Laboratoires Anios

Other operations with Laboratoires Anios
Date	Acquirer	Target	Country	Sector
02/2017	ECOLAB	LABORATOIRES ANIOS	FRANCE	Medical Consumables

Other operations with Ardian

Other operations with Ardian
Date	Acquirer	Target	Country	Sector
07/2016	ARDIAN	DEDALUS	ITALY	Healthcare
06/2016	ARDIAN	DIAM	FRANCE	Marketing & Events
04/2016	ARDIAN	TRIGO	FRANCE	TIC (Testing, Inspection, Certification)
10/2015	ARDIAN	SOLINA GROUP	FRANCE	Ingredients
07/2015	ARDIAN	IRCA	ITALY	Ingredients
02/2015	ARDIAN	SIACI SAINT-HONORE	FRANCE	Brokerage
01/2014	ARDIAN	NHV GROUP	BELGIUM	Transport & Logistics
11/2010	ARDIAN	NOVACAP	FRANCE	Specialty Chemicals
06/2007	ARDIAN	DIANA GROUP	FRANCE	Ingredients
10/2006	ARDIAN	GERFLOR	FRANCE	Flooring

Similar deals in Life Sciences

Similar deals in Life Sciences
Date	Acquirer	Target	Country	Sector
02/2014	MONTAGU PRIVATE EQUITY	NEMERA	FRANCE	Medical Consumables
01/2014	FIVE ARROWS	DUTSCHER	FRANCE	Medical Consumables
07/2013	CHARTERHOUSE	DOC GENERICI	ITALY	Generics / Labs
06/2013	BC PARTNERS	ANTELLIQ	FRANCE	Animal Health
06/2013	EURAZEO	PÉTERS SURGICAL	FRANCE	Medical Consumables
01/2013	ELITECH GROUP	VITAL DIAGNOSTICS	UNITED STATES	Diagnostic Equipment
08/2012	BC PARTNERS	AENOVA GROUP	GERMANY	CDMO
05/2011	AZULIS CAPITAL / BNP PARIBAS DEVELOPPEMENT / GALIA	LAGARRIGUE	FRANCE	Implants & Prosthetics
09/2010	SPARRING CAPITAL	IMV TECHNOLOGIES	FRANCE	R&D Biotech
09/2009	THE CARLYLE GROUP	MARLE GROUP	FRANCE	Implants & Prosthetics

REFERENCES

Valuation range: EV €300–700M

Revenue range: €100–200M

EBITDA range: €25–50M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Laboratoires Anios by Ardian 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.

Target: laboratoires anios

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Laboratoires Anios, a French company specialised in Medical Devices, by Ardian in 2013, structured as a leveraged buyout (LBO). Ownership has since evolved, leading to a subsequent transaction with Ecolab in February 2017 (see the dedicated deal page for details).

How was the acquisition of Laboratoires Anios by Ardian valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Laboratoires Anios’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Laboratoires Anios generated annual revenue estimated in the €100–200M range and EBITDA in the €25–50M bracket (FY 2012). Detailed financial figures are available to members.

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

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