VITAL DIAGNOSTICS acquired by ELITECH GROUP

Air Liquide has entered into exclusive negotiations to sell its 66% majority stake in Laboratoires Anios to a consortium comprised of Ardian and the founding Letartre brothers, Bertrand and Thierry. This transaction represents a strategic spin-off for Air Liquide, allowing the industrial gas giant to refocus its hygiene activities exclusively on its German subsidiary, Schülke & Mayr. The acquisition is structured with an LBO featuring a senior debt facility and an important CAPEX line to fund future growth. The financing reflects a leverage effect of 4.0x to 5.0x EBITDA. The primary strategic rationale for the new ownership is to accelerate Anios's international footprint, particularly through M&A opportunities in emerging markets such as Brazil, India, and China, moving the company toward a more globalized operational model.

Charterhouse acquired 100% of DOC Generici from a consortium of three pharmaceutical companies: Apotex (Canada), Chiesi Farmaceutici (Italy), and Zambon (Italy). The deal was structured as a Management Buyout, backing the incumbent CEO. It was financed with approximately EUR175 million in debt facilities provided by UniCredit (acting as Global Coordinator), HSBC, and Intesa Sanpaolo. The strategic aim was to professionalize the entity from a trade-owned subsidiary into an independent market leader, expanding its product pipeline and diversifying into segments like nutritional supplements.

The acquisition of Péters Surgical by Eurazeo PME is a strategic move that reflects the investment firm's commitment to supporting the growth and development of medium-sized enterprises in the healthcare sector. With its strong track record of investing in medical device companies, Eurazeo PME will provide Péters Surgical with the financial and strategic support it needs to continue expanding its product offerings and increasing its international presence. The deal is expected to be completed by the end of July 2013, with Eurazeo PME acquiring approximately 90% of Péters Surgical's capital. The company's management team, including President and CEO Jean-Marc Chalot, will retain a significant stake in the business and will continue to play a key role in driving its growth and development. The acquisition is expected to provide Péters Surgical with the resources it needs to pursue its strategic objectives, including expanding its product lines and increasing its presence in emerging markets. With its strong reputation for quality and innovation, Péters Surgical is well-positioned to become a leading player in the global medical device industry, and Eurazeo PME's support will be instrumental in helping the company achieve its full potential.

BC Partners has successfully finalized the acquisition of a majority stake in the share capital of the target from a UK-based investment trust. This strategic transaction represents a secondary leveraged buyout designed to accelerate the organization’s shift toward electronic identification and digital monitoring technologies. The strategic rationale for the move centers on the acquirer's objective to capitalize on the increasing global adoption of mandatory livestock traceability and the rising demand for sophisticated animal intelligence solutions.

BC Partners have signed a definitive agreement to acquire a majority stake in the Aenova Group from the European private equity firm Bridgepoint. This secondary LBO marks the end of Bridgepoint’s ownership period, which began in 2005, during which Aenova was transformed into one of Europe’s leading CDMOs. The current management team, led by CEO Heiner Hoppmann and CFO Frank Elsen, will remain at the helm to lead the next phase of the company's development. The strategic rationale for the acquisition is focused on leveraging Aenova’s superb market positioning to drive both organic and inorganic growth. BC Partners intends to utilize the group as a platform for further acquisitions to broaden its service range and enhance its competitive standing in international markets. For Aenova, the partnership with BC Partners provides the necessary capital to expand its "customer-centric" strategy and invest in innovative manufacturing technologies.

Following an initial OBO three years prior (where debt was fully repaid), Lagarrigue completed a majority LBO led by Azulis Capital. The consortium, including BNP Paribas Developpement, Galia Gestion, and historical investor iXO PE, acquired approximately 80% of the capital. The operation marked the full exit of the founder, who sold his remaining 20% stake. The manager and key executives reinvested for the remaining 20%. The deal was structured conservatively with 70% Equity/Mezzanine and only 30% Senior Debt to allow headroom for acquisitions in a fragmented market.

OFI Private Equity Capital announced the sale of its majority stake in IMV Technologies to Pragma Capital (Renamed Sparring Capital). OFI PE retains a minority stake of 11% by reinvesting EUR5 million alongside the management team led. The transaction concludes a 3-year holding period during which the company accelerated its external growth and opened a new industrial site.

The Carlyle Group has acquired an 80% majority stake in Marle S.A. The company's President, Bernard Marle, along with his family, has reinvested to retain a 20% stake. This Primary LBO is designed to support the company's growth in a market expanding at 8% annually. The transaction structure includes a senior debt package co-arranged by CIC Est and LCL, as well as a vendor loan (credit-vendeur). Carlyle aims to professionalize the company and accelerate its international expansion.

Astorg Partners has entered into a definitive agreement to acquire a 60% majority stake in Ethypharm. The transaction follows a competitive sale process that included both industrial players and other private equity funds. The operation marks a resolution to a long-standing governance conflict between the laboratory's founding shareholders. Under the new ownership structure, the management team and current CEO will retain approximately 29% of the capital, while Intermediate Capital Group (ICG) and other minor shareholders will hold the remaining balance. The strategic rationale for the acquisition is to support Ethypharm’s transition from a primarily European player into a global leader in sophisticated galenic forms. Astorg Partners intends to accelerate the laboratory's development in North America, specifically targeting acquisitions to gain a local foothold in that market. The investment aims to capitalize on the target's strong historical growth rate and its specialized technical capabilities. The management team will remain in place to ensure operational continuity and execute the internationalization strategy, focusing on scaling the company’s R&D-driven business model while maintaining its established production excellence in Europe and Asia.

Acteon (formerly Satelec-Pierre Rolland), a Mérignac-based medical-dental equipment and consumables manufacturer, has finalized a LBO transaction. Led by Edmond de Rothschild Capital Partners (ERCP) through the special purpose vehicle Financière Noé, the private equity sponsor acquires a 51% controlling interest, while the management team rolls over its equity to retain a 49% stake. Historical shareholders IDI, Edmond de Rothschild Investment Partners (ERIP), and mezzanine provider ICG are converting their stakes into the new structure, facilitating the complete exits of ABN Amro and XAnge Capital. The leveraged financing package comprises a senior debt facility structured across seven tranches and a mezzanine layer. Backed by its strong market positioning, the enterprise is well-placed to leverage its reconstituted investor base to accelerate its high-tech product pipeline and expand its global market presence.