M&A Deal Summary

3i Private Equity, Intermediate Capital Group, Electra, NiXEN Partners and Omnes Capital Acquire Labco

On July 23, 2008, private equity firm 3i Private Equity, mezzanine finance firm Intermediate Capital Group, private equity firm Electra, private equity firm NiXEN Partners and private equity firm Omnes Capital acquired healthcare services company Labco for 150M EUR

Acquisition Highlights
  • This is 3i Private Equity’s 8th, Intermediate Capital Group’s 12th, Electra’s 1st, NiXEN Partners’ 1st and Omnes Capital’s 2nd transaction in the Healthcare Services sector.
  • This is 3i Private Equity’s 32nd, Intermediate Capital Group’s 63rd, Electra’s 11th, NiXEN Partners’ and Omnes Capital’s 10th largest (disclosed) transaction.
  • This is 3i Private Equity’s 21st, Intermediate Capital Group’s 58th, Electra’s 2nd, NiXEN Partners’ 18th and Omnes Capital’s 61st transaction in France.
Investment Fate
  • Labco was sold to a consortium of financial buyers in 2015 for 1.2B EUR.
  • Labco merged with another company in 2015.
  • Labco merged with another company in 2015.

M&A Deal Summary
Date 2008-07-23
Target Labco
Sector Healthcare Services
Buyer(s) 3i Private Equity
Intermediate Capital Group
Electra
NiXEN Partners
Omnes Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 150M EUR

Target

Labco

Paris, France
website
Labco is a provider of medical diagnostic services. Labco also operates a large portfolio of hospital outsourcing contracts in Europe, providing services to both ambulatory care and hospitals. Labco was founded in 2003 and is based in Paris, 75010, France.

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Buyer(S) 5

Buyer

3i Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1945
PE ASSETS 16.7B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

3i Private Equity is the private equity arm of 3i Group, a publicly held, global investment firm focused on private equity and infrastructure investing. 3i Private Equity generally targets buyout and growth capital financings and looks for opportunities across Europe, North America, and Asia. The Firm's targeted transaction range is €100 to €500 million. Industries of interest include business services, healthcare, consumer, media, oil/gas & power, technology, and financial services. 3i Group was originally formed in 1945 and is based in London.

DEAL STATS #
Overall 188 of 247
Sector (Healthcare Services) 8 of 9
Type (Buyout (LBO, MBO, MBI)) 100 of 116
Country (France) 21 of 29
Year (2008) 14 of 17
Size (of disclosed) 32 of 64
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-22 Soya Concept A/S

Sønderborg, Denmark

Soya Concept A/S offers fashionable women’s clothing to price-conscious consumers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-30 Sampletest Spain S.L.

Madrid, Spain

Sampletest provides general analysis and basic diagnosis services to doctors’ surgeries throughout Portugal and Spain. Its strategy is to gradually complement these services with more complex diagnosis services. It covers a wide product range from regular tests to more complex practices such microbiology, haematology, endocrinology and immunology.

Sell -
Buyer

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.

DEAL STATS #
Overall 215 of 279
Sector (Healthcare Services) 12 of 16
Type (Buyout (LBO, MBO, MBI)) 106 of 112
Country (France) 58 of 71
Year (2008) 10 of 15
Size (of disclosed) 63 of 80
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-18 Craegmoor

London, United Kingdom

Craegmoor Ltd. is an operator of elderly and specialist long term care homes in the UK.

Sell £290M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-24 Hudson Products

Beasley, Texas, United States

Hudson Products Corp. is a provider of heat transfer solutions firms providing air-cooled heat exchangers and axial-flow fans to some of the largest processors in the petroleum, natural gas, power generation, petrochemical and chemical industries.

Buy -
Buyer

Electra

London, United Kingdom

Investor

website

Category Private Equity Firm
PE ASSETS 800M GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Electra is an investment trust quoted on the London Stock Exchange that specializes in private equity investments. Electra's primary focus is on opportunities across Western Europe in a broad array of industries. Electra Private Equity is based in London.

DEAL STATS #
Overall 23 of 41
Sector (Healthcare Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 14 of 19
Country (France) 2 of 2
Year (2008) 1 of 1
Size (of disclosed) 11 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-07 Kingfield Heath Holdings

Sheffield, United Kingdom

Kingfield Heath is a wholesale supplier of office products. It supplies a wide range of traditional stationery products, paper, envelopes, electronic office supplies, business machines, furniture and other office products to office supplies dealers and resellers throughout the UK.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-20 The Kalle Group

Wiesbaden, Germany

The Kalle Group is a supplier of industrially produced casings for meat, poultry, and other protein products. In addition to its innovative range of value-added casings, it creates a steady stream of new and customized solutions that enable new types of products. Kalle uses its technological and innovative edge to accelerate the pace of development - both in existing markets and in many emerging markets in Latin America, Eastern Europe, and Asia.

Buy €213M
Buyer

NiXEN Partners

Paris, France

Investor

website

Category Private Equity Firm
Founded 1998
PE ASSETS 600M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

NiXEN is a French private equity group that targets investments in middle-market companies valued between €30 and €300 million. iXEN looks to invest €20 to €25 million of equity capital to support management buyouts/buy-ins, leveraged build-ups, owner buy-outs (OBOs), and public to private deals. The Firm is a 'hands-on' investment group and will consider opportunities in a variety of sectors, including manufacturing, consumer goods, specialist retailing, restaurants, and services. iXEN is supported by Natixis Private Equity and was formerly known as Natexis Industrie. The Firm was formed in 1998 and is based in Paris.

DEAL STATS #
Overall 19 of 26
Sector (Healthcare Services) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 10 of 14
Country (France) 18 of 25
Year (2008) 4 of 5
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-01 DESSANGE International SA

Paris, France

DESSANGE International SA operates and franchises a network of salons and beauty institutes in France and internationally. With around 1,600 salons in 47 countries, DESSANGE International bases its growth on the DESSANGE, Camille Albane, Fantastic Sams, and Phytodess brands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-30 Aerocan S.A.S.

Châtillon-en-Michaille, France

Aerocan S.A.S. is a manufacture of aluminium aerosol cans for the personal care and pharmaceutical industries.

Sell -
Buyer

Omnes Capital

Paris, France

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2004
PE ASSETS 1.9B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Omnes Capital formerly known as Credit Agricole Private Equity (CAPE) is the investment arm of financial services group Credit Agricole. Omnes Capital looks to invest in a range of investment stages and transaction types, including LBO/expansion, venture capital, mezzanine, renewable energy, co-investment, infrastructure, and special situations. The Firm's LBO/expansion group looks to invest €25 to €80 million to support growth initiatives and buyouts of small and mid-cap businesses operating in a variety of industries. Omnes Capital generally invests in businesses operating in France and Italy. Omnes Capital's mezzanine area was formed in 2002 and looks to provide €5 to €30 million of junior capital to similar sized established businesses. In addition to Omnes Capital's traditional equity and subordinated debt investment arm, the Firm also invests in infrastructure projects as well as provides capital for distressed businesses with €10 to €150 million in revenue. Omnes Capital was formed in 2004 and is based in Paris.

DEAL STATS #
Overall 75 of 139
Sector (Healthcare Services) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 49 of 70
Country (France) 61 of 112
Year (2008) 8 of 14
Size (of disclosed) 10 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-10 Balitrand Group

Cannes La Bocca, France

Balitrand is a wholesale supplier of building materials (heating, sanitation, air-conditioning) in the Provence Alpes Cote d'Azur region of France. Based in Cannes, Balitrand operates 22 outlets and employs 550 people.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-01 SLG Recycling SA

Tours, France

SLG Recycling SA specialised in recycling scrap and non-ferrous metals and now have the capability to address the full spectrum of industrial and community waste management issues (collection, sorting, reclamation and demolition of buildings and other edifices).

Buy -
Mergr

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