LUMINEX CORPORATION acquired by DIASORIN

Orkla completed its acquisition of NutraQ to strategically enhance its presence in high-growth market segments, specifically the health category and the direct-to-consumer (D2C) channel. The transaction provides Orkla with a new, subscription-based business model, diversifying its traditional go-to-market strategies and offering exciting growth opportunities. Orkla's leadership expressed admiration for the target's successful use of subscription solutions to build a significant customer base with direct home delivery. The strategic plan involves continuing the development of NutraQ's established concepts while simultaneously exploring new possibilities for applying the D2C model across Orkla's broader portfolio. To preserve the target's unique competencies and entrepreneurial culture, NutraQ will continue to operate as a stand-alone entity within the Orkla Care business area, with its existing executive management team remaining in place. The deal represents a logical next step for NutraQ, transitioning it from private equity ownership under Impilo and Sana Pharma Holding to a long-term industrial owner poised to support its next phase of growth and expansion. The transaction received all necessary approvals from relevant competition authorities prior to its completion.

Intech Medical, a global leader in the manufacturing of orthopedic surgical instruments and implants, has entered into an agreement to be acquired by Montagu Private Equity. The transaction marks the exit of Eurazeo (specifically its mid-cap subsidiary) and Andera Partners, who have held a majority stake in the French group since 2017.

Naxicap Partners acquired a majority stake (~80%) in Groupe Lagarrigue from Ardian and iXO Private Equity. The management team reinvested to hold the remaining ~20%. Naxicap prevailed in a competitive auction process managed by Edmond de Rothschild Corporate Finance, beating out offers from IK Investment Partners and Cobepa. The transaction is financed through a unitranche debt facility (likely provided by ArcMont AM) combined with a PIK note (CIC Private Debt), including significant capex lines to fund future external growth.

CVC acquired a majority stake in Cooper-Vemedia from Charterhouse. The transaction, valued at EUR2.2 billion, was won in a competitive process against a PAI/Ontario Teachers' consortium. The acquisition reflects CVC's appetite for high-cash-flow businesses with low capital intensity (Capex ~EUR10M). The goal is to pursue a buy-and-build strategy across Europe.

Siparex ETI has entered into exclusive negotiations to acquire a majority stake in Winncare, marking the first investment of its Siparex ETI 5 fund. This transaction follows a successful period of ownership by IDI, which originally took control of the group in 2014 and supported a doubling of the company,s size through international expansion. In this new capital structure, IDI is exiting its majority position but remains a minority investor, alongside the management team led by President Philippe Chêne, who continues to drive the group,s strategic vision. The primary rationale for this LBO is to provide Winncare with the financial resources to act as a "natural consolidator" in the fragmented European medical equipment market. Under Siparex,s sponsorship, the group intends to accelerate its international deployment and prioritize the roll-out of new high-tech offerings, such as connected fall-prevention systems and modernized clinical bed ranges. The deal leverages the positive demographic trends of the "Silver Economy," focusing on high-quality care for the elderly. Furthermore, the partnership is built on shared values of corporate social responsibility, with a clear objective to transition Winncare into a mission-driven enterprise (entreprise à Mission), focusing on the social impact of its healthcare solutions and the professionalization of the caregiving sector.

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.

Sagard entered into exclusive negotiations to acquire a majority stake in Nutrisens, effectively preempting an auction process that had attracted ten funds and three industrial players. The transaction marks the exit of historical shareholder Evolem (family office of Bruno Rousset), which had built the group since 2007, and minority investor Unigrains (who held 30%). The management team is reinvesting alongside Sagard. To secure the deal quickly, Sagard arranged a unitranche financing facility with Idinvest Partners. The strategic plan aims to exceed EUR100 million in revenue in 2021 through new acquisitions and by expanding distribution into pharmacies.

For the first time since its founding in 1913, Proteor has opened its capital to institutional investors through a primary Owner Buy-Out (OBO). Ardian Growth and BNP Paribas Développement have injected €24 million (a mix of convertible bonds and equity) to support the group's next phase of expansion. The founding Archambeaud family maintains clear majority control of the group. The strategic rationale for this primary round is to provide Proteor with the financial firepower to execute major international build-ups, specifically the $17 million acquisition of the US-based assets of Freedom Innovations. This deal transforms Proteor into a global player in the high-tech prosthetics market, integrating advanced micro-processor technologies and strengthening its footprint in North America.

Novalpina Capital made its first French investment by acquiring a controlling stake in Laboratoire X.O. The deal values the company at over EUR300M, supported by a unitranche debt facility from Ares Management. Novalpina has also reserved EUR100M for future acquisitions. The objective is to triple revenue within five years by acquiring more drug portfolios and expanding the group's international footprint beyond France and Francophone Africa.

Sulzer has completed the acquisition of Haselmeier, integrating the drug delivery specialist into its Applicator Systems (APS) division. The transaction was structured to acquire 100% of the privately held Swiss-German company, allowing Sulzer to immediately scale its healthcare business and leverage Haselmeier’s significant portfolio of proprietary intellectual property.The strategic rationale for this acquisition is centered on technical synergy and market expansion. By combining Haselmeier’s competence in self-injection devices with Sulzer’s existing expertise in precision injection molding and liquid mixing, the group intends to accelerate the development of innovative and differentiated medical devices. This move allows Sulzer to pivot its APS division toward the high-growth pharmaceutical market, particularly in indications requiring frequent subcutaneous injections. The integration is expected to yield substantial cost synergies through the insourcing of manufacturing processes and the utilization of Sulzer’s global industrial infrastructure.