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.

Founded in 1987, Star Service is a leading French provider of specialized last-mile logistics solutions. The group operates a business model focused on high-value urban delivery for diverse sectors, including large-scale food retail, e-commerce, and specialized healthcare. Its value proposition is built on technical expertise in handling sensitive goods, particularly through temperature-controlled transport for pharmaceutical products and laboratory samples. Star Service,s strategy emphasizes sectoral diversification, moving from its historical base in food retail to become a key player in healthcare logistics following the strategic integration of specialized subsidiaries. The group serves a prestigious client base of retailers, laboratories, and automotive spare parts distributors, leveraging a dense operational network to ensure reliable, high-frequency deliveries in urban environments. By integrating advanced tracking technologies and adhering to strict regulatory standards for medical transport, Star Service positions itself as a critical infrastructure partner in the evolving supply chain for both digital commerce and public health services.