Ardian Expansion acquired a majority stake in Vista Vision from its founders and Credem Private Equity. The transaction marks a new strategic phase for the group, following a period of rapid expansion where revenues tripled under Credem's tenure. The founders reinvested significantly alongside Ardian to remain minority shareholders and lead the next growth cycle. The strategic roadmap focuses on aggressive buy-and-build activity in the highly fragmented Italian market—with eight acquisitions already in the pipeline—and international expansion across Romania and other European countries. The deal highlights the "social infrastructure" appeal of specialized healthcare services driven by increasing demand for elective surgeries and advanced ophthalmic care.

VISTA VISION, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 13.4x average currently observed in the Healthcare & Pharma sector.

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.