STAR SERVICE acquired by MACSF

Star Service has completed its third leveraged operation (an OBO) to diversify its shareholding and support a new phase of healthcare-led growth. In this transaction, the founder and the management team (which has expanded since the previous 2013 operation) maintain majority control of the capital. The pool of minority investors has been significantly renewed: while historical partners Socadif and BNP Paribas Développement have reinvested, lead investor Andera Partners has fully exited its position via the Winch Capital 2 fund. Two new strategic minority entrants, the insurer MACSF and the healthcare group Vivalto, have joined the round to provide sector-specific expertise. The rationale for this OBO is to capitalize on Star Service's successful transformation into a multi-sector logistics leader, having more than doubled its revenue from €93M to €200M over the last five years. The entry of healthcare-focused investors is specifically designed to accelerate the group's expansion into pharmaceutical and laboratory transport, a segment characterized by high technical barriers and strict regulatory requirements for temperature control. The deal is financed by a three-tranche senior debt package provided by a pool of major French commercial banks and Zencap. Looking forward, the partners aim to leverage external growth to build international presence and consolidate the group's leadership in the rapidly growing medical and e-commerce delivery markets.