mynth
03/2022

UNIPEX acquired by BARENTZ

FRANCE B2B Specialized Distribution REV 50M - 100M EUR

Context

Barentz acquired 100% of Unipex from its management team and BNP Paribas Developpement (who held ~27%). This transaction marks the successful conclusion of the OBO structure set up in 2019. The deal was negotiated bilaterally (pre-empting a broader auction). Unipex brings EUR90 million in additional revenue and strengthens Barentz's position in France and North Africa, where the Dutch group was historically underrepresented.

As a reminder, the company had previously received an investment from Bnp Paribas Developpement in 2019.

UNIPEX, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Business Services sector (11.1x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Unipex is a distributor of specialty ingredients acting as an intermediary between chemical producers and manufacturers. The company serves the pharmaceutical, cosmetic, chemical, and food industries. It distributes approximately 1,700 ingredients to 1,600 clients across France, Benelux, and North Africa. Originally a division of the Unipex Group, it became independent in 2015. In 2018, the company generated EUR92 million in revenue.

Ent. Value

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Equity Value

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Multiples

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

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2021
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2020
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Other operations with UNIPEX

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
10/2019BNP PARIBAS DEVELOPPEMENTUNIPEXFRANCEB2B Specialized Distribution

BNP Paribas Developpement invested EUR8.8 million to acquire a minority stake in Unipex. The management team, retains a two-thirds majority of the capital, while 5% is distributed to key managers. The deal is leveraged with a EUR27 million senior debt package arranged by Societe Generale. This operation allows the senior management (aged ~60) to realize some value while preparing the company for a full sale to a majority PE fund within 3-5 years.

REFERENCES

Revenue range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of UNIPEX by BARENTZ are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: barentz