WINBACK acquired by CHARTERHOUSE

Yotta Capital Partners led a majority buyout of Villard, succeeding the previous sponsorless structure held by CEO. The transaction values the company on a solid growth trajectory, with the management team and historical regional partners reinvesting in the new pool. This primary investment for Yotta's second fund aims to triple Villard's size by 2030 through organic growth and a proactive "buy-and-build" strategy, focusing on expanding the product range in medical logistics and increasing international sales beyond the current 20%.

Fagron acquired 100% of University Compounding Pharmacy for an Enterprise granting to Fagron a stronghold in California (a high-barrier market) and adds complementary therapeutic expertise (Urology) to its existing US portfolio (which includes Anazao). Fagron expects to realize significant synergies over the next 18-24 months by integrating UCP into its national platform.

Pfizer has finalized the acquisition of Metsera, an operation designed to fundamentally transform the group’s Internal Medicine portfolio and secure a leading foothold in the obesity treatment sector. The strategic rationale for this transaction centers on a "pipeline-transformation" play, merging the target's highly differentiated clinical-stage obesity candidates with the group's global development and commercial infrastructure. This fusion effectively creates a specialized powerhouse in the cardiometabolic arena, providing the organization with a suite of weekly and monthly injectable therapies, alongside oral alternatives, to address the maturing needs of a global patient base.

Arlane has acquired a majority stake (approximately two-thirds) in Dessintey through a primary LBO. The transaction allows for the exit of early-stage investors Turenne Sante (via Relyens Innovation Sante) and Credit Agricole Haute-Loire, who invested in 2019. The three founders (Nicolas Fournier, Davy Luneau, Pascal Giraux) and key managers have reinvested alongside Arlane but are diluting their stakes. The deal is supported by a conservative senior debt package provided by CIC and LCL.

Anjac acquired a majority stake in HCG to accelerate its growth in the nutraceutical space. This is the 17th company to join the Anjac ecosystem. Beyond the acquisition cost, Anjac has committed to a EUR25M investment plan to expand the Velenje production site, aiming to triple its output within 12 months. The historical founders remain as operational partners.

Ottobock successfully completed its Initial Public Offering on the Frankfurt Stock Exchange, marking the largest German IPO of 2025. The shares were priced at €66.00, with the first trading price reaching €72.00 (a 9% premium). At the issue price, the market capitalization stood at €4.2 billion, rising to €4.6 billion upon listing. The strategic rationale for the IPO was to raise gross proceeds to deleverage the balance sheet and accelerate investments in "future technologies," such as AI-integrated bionics and exoskeleton research. Additionally, the capital will fund targeted acquisitions in the fragmented Patient Care and components sectors. The deal marks a milestone in the company’s history, professionalizing its capital structure while providing an exit path for previous minority stakeholders and securing a long-term capital base for global expansion.

InvestIndustrial finalized the acquisition of DCC Healthcare Limited from the London-listed group DCC plc. This transaction is a strategic corporate carve-out designed to simplify DCC plc's operations, allowing the group to focus resources on its largest and most profitable Energy division. The proceeds from the sale are earmarked for distribution to DCC shareholders. The deal received regulatory approval from the European Commission.

Proteor has orchestrated a secondary Owner Buy-Out (OBO Bis). The transaction allows Ardian Growth to exit its minority position, which it held since the primary OBO in 2021, realizing a return of approximately 3x money. The founding Archambeaud family remains the majority shareholder, continuing its 4th-generation leadership. The strategic rationale for this new round is to consolidate Proteor’s industrial activity and fund future international acquisitions, building on the successful integration of Freedom Innovations in the USA. The deal was supported by a diverse pool of national and regional banks providing senior debt. This partnership aims to strengthen Proteor’s position as a global integrated player, balancing its manufacturing expertise with its extensive network of orthopedic centers amidst a consolidating global market.

CapVest Partners agreed to acquire a controlling majority stake in Stada from Bain Capital and Cinven. This deal serves as an alternative to a planned IPO in Frankfurt, which was shelved due to market volatility. Under the agreement, the previous owners (Bain and Cinven) will retain a significant minority stake to benefit from future upside. CapVest intends to support the management team's strategy of international expansion and further consolidation in the fragmented consumer health market. Canson Capital Partners is also expected to co-invest alongside CapVest.

The French medical diagnostics giant Sebia welcomes a new heavyweight investor, Warburg Pincus, into its capital. This transaction, valuing the company at over EUR5 billion, sees the partial exit of minority shareholders CDPQ and ICG. The current majority owners, CVC Capital Partners and Tethys Invest (the Bettencourt-Meyers family office), retain a significant stake and will continue to back the company alongside Warburg Pincus. This new consortium aims to support Sebia's expansion in the US and Asian markets and fund potential acquisitions in the IVD space.