Funds Advised by Apax Partners LLP Acquire Remaining Stake in European Medical Diagnostics Leader Unilabs from Nordic Capital and Apax Partners France
12.12.2016 07:30 | Business Wire
The joint owners of Switzerland-based Unilabs, private equity funds Apax Europe VI, Nordic Capital Fund VI (“Nordic Capital”) and Apax France VII, announced today that Nordic Capital and Apax Partners France, have accepted an offer from Apax IX, advised by Apax Partners LLP, for the acquisition of their respective stakes in Unilabs. Financial terms of the transaction are not being disclosed. Under the new ownership structure, Unilabs will be able to continue to pursue its successful M&A strategy and be at the forefront of the ongoing consolidation of the European laboratory space.
The transaction marks the successful completion of the joint ownership between funds advised by Apax Partners LLP, Nordic Capital and Apax Partners France (jointly with Altamir), which saw Unilabs taken private from the Swiss stock exchange in November 2007 and merged with the diagnostic division of pan-European healthcare provider Capio in 2008.
Throughout the ownership, funds advised by Apax Partners LLP, Nordic Capital, and Apax Partners France have made significant investments into the business to pursue a shared vision of creating what is today Europe’s most modern and professionalised medical laboratory business.
With over 112 laboratories and 43 medical imaging units across 10 European countries and emerging positions in the Middle East and Latin America, Unilabs has grown to become one of Europe’s leading medical diagnostics businesses. Offering the most comprehensive portfolio of diagnostic services in Europe, Unilabs’ 5,300 employees provide reliable and actionable diagnostic information, which is essential for effective treatment, thereby improving patients’ lives and contributing to the optimisation of rising healthcare costs.
Having taken Unilabs to this unique position, Nordic Capital and Apax Partners France have decided to sell their investment in Unilabs to Apax IX, which will support the company as it takes advantage of the strong market outlook and consolidation opportunities.
Fredrik Näslund, Partner, NC Advisory AB, advisor to the Nordic Capital Funds, said: “By drawing on a deep expertise and successful track record in the healthcare sector, Nordic Capital has been able support the creation of a truly market leading business. We would like to thank Jos Lamers and the management team for their dedication and commitment to driving the company’s growth strategy and development.”
Echoing the support to Unilabs’ management team, Bertrand Pivin, partner at Apax Partners France, commented: “We are pleased to exit in the knowledge that Unilabs, under the continued partnership with Apax Partners LLP, will be ideally equipped to pursue its journey and we wish them the best of success.”
Driving a successful M&A strategy in a highly fragmented European laboratory market by acquiring smaller and medium-sized laboratories is critical to the future strategy of the business. Unilabs will therefore continue to be at the forefront of the ongoing consolidation of the European laboratory space.
Jos Lamers, CEO of Unilabs, commented: “I would like to thank our partners for sharing our vision and for their support in building a company with solid market leadership positions. Today’s transaction will allow us to pursue our ambition to become a proactive partner to caregivers and patients in all areas of diagnostics – from laboratory diagnostics to pathology and medical imaging. We will achieve this by investing in innovative services, pursuing operational excellence and conducting further M&A activity to expand our European and international presence.”
Steven Dyson, Partner at Apax Partners LLP, commented: “Under the leadership of CEO Jos Lamers and his executive team, Unilabs and its 5,300 employees have done an outstanding job in growing organic revenues at close to double market rates, and they continue to generate expanding operating margins. We are excited to continue our successful collaboration and to support the company in its future ambitions.”
With over 112 laboratories and 43 imaging units and a broad catalogue of more than 2,500 diagnostic tests, Unilabs is one of Europe’s leading providers of clinical laboratory testing and medical diagnostic imaging services. Headquartered in Geneva, the Unilabs Group services sectors ranging from private and public healthcare providers to local governments, from pharmaceutical companies to the general public. The Unilabs Group employs more than 5,300 people worldwide, successfully operating laboratory and medical diagnostic imaging facilities in 12 countries, and generating annual revenues of €673m in 2015. Its network of facilities provides its customers with one of the broadest geographic footprints of any clinical laboratory and medical diagnostic services provider in Europe.
We are at the heart and start of all effective treatment decisions: www.unilabs.com
About Apax Partners LLP
Apax Partners LLP is a leading global private equity advisory firm. Over its more than 30-year history, Apax Partners LLP has raised and advised funds with aggregate commitments in excess of $48 billion*. Funds advised by Apax Partners LLP invest in companies across four global sectors of Healthcare, Tech and Telco, Services and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. In the healthcare sector they have completed more than 80 investments, including in medical devices, pharmaceuticals and healthcare services.
For further information please see www.apax.com
*Funds raised since 1981, commitments converted from fund currency to USD at FX rates as at September 30, 2016.
About Nordic Capital
Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information: www.nordiccapital.com
About Apax Partners France
Apax France is a leading private equity firm in French-speaking European countries. With more than 40 years of experience, Apax France provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax France exceed €3 billion. These funds invest in fast-growing middle-market companies across four sectors of specialisation.
For further information: www.apax.fr
Altamir is a listed private equity company (Euronext Paris-B, LTA) with more than €650m in assets under management. The company invests via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms in their respective markets. It provides access to a diversified portfolio of fast-growing companies across Apax’s sectors of specialisation (TMT, Retail & Consumer, Healthcare, Business & Financial Services) and in complementary market segments (mid-sized companies in French-speaking European countries and larger companies across Europe, North America and key emerging markets).
For further information: www.altamir.fr
The transaction is subject to regulatory approvals and the parties expect closing to occur in early 2017.
Rothschild & Co acted as M&A advisor to the Sellers on the transaction.
Apax Partners LLP was advised by Simpson Thacher & Bartlett LLP and Vinge. Nordic Capital was advised by Mannheimer Swartling. Apax France was advised by Allen & Overy LLP.
Markus Leutert, Communications
Tel. +41 22 909 77 94
Apax Partners LLP
Georgiana Brunner, Matthew Goodman, Annabel Clay
Tel. +44 20 79 52 20 00
Katarina Janerud, Communication Manager,
NC Advisory AB, advisor to the Nordic Capital funds
Tel: +46 8 440 50 69
Apax Partners France
Coralie Cornet, Communications Director
Tel. + 33 1 53 65 01
Agathe Heinrich, Investor Relations & Communications
Tel. +33 1 53 65 01 74
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
The Valence Group Issues Fairness Opinion to SK Capital in Connection with Archroma18.8.2017 13:30 | Pressemelding
The Valence Group has provided a fairness opinion to SK Capital Partners, LP in connection with its recapitalization of Archroma, including investments made by various affiliates of SK Capital. Terms of the transaction were not disclosed. About SK Capital SK Capital is a private investment firm focused on the specialty materials, chemicals and pharmaceutical sectors. The firm builds strong and growing businesses that generate substantial long-term value for its investors. SK Capital utilizes its industry, operating and investment experience to identify opportunities to transform businesses into higher performing companies with improved strategic positioning, growth, profitability and risk profiles. The firm currently has approximately $1.9 billion of assets under management and its portfolio companies generate revenues of over $5.0 billion annually and employ approximat
Biker Summer 2017 campaign: What’s happening during Biker Summer 2017? Moto-tyres.co.uk is giving away exciting prizes!18.8.2017 09:22 | Pressemelding
Whether it’s a short weekend break or a long-distance tour – once again this year Moto-tyres.co.uk is asking bikers from 10 countries about their dream destinations and longest journeys as part of its “Biker Summer 2017” campaign. To ensure than nothing gets in the way of your next tour, the two-wheeler tyre store from Delticom, Europe’s leading online tyre dealer, is entering anyone who completes the survey before 30 September 2017 into a prize draw to win some great biking accessories. Simply answer three short questions about your plans for bike tours this year (don’t forget to provide your name and email address), and with a bit of luck, you might win one of these great prizes. Up for grabs are a GARMIN motorbike GPS system, a GoPro camera with helmet bracket and five 200-Pound vouchers for new motorbike tyres from the online store – thanks to the product range at Moto-tyres.co.uk, eve
Lenovo Continues to Gain Momentum in First Quarter FY 2017/1818.8.2017 00:04 | Pressemelding
Behind the strength of its 3-wave strategy, Lenovo’s business transformation continued to gain traction during the first quarter, delivering solid profitability in its core PC and smart devices business, and revenue and profit improvements in targeted growth areas, including the data center and mobile businesses. Fueled by new investments in people and products, Lenovo’s Data Center Group (DCG) introduced the most comprehensive product lineup in its history, with the new ThinkSystem and ThinkAgile portfolio, and continued to build out its end-to-end sales organization. Similarly, Lenovo’s Mobile Business Group launched significant new products led by the Moto Z2 Force, available now on all major U.S. carriers, and ramped up its branding efforts worldwide. “In the first quarter this fiscal year, we had stable performance as we executed our 3-wave strategy with commitment. We
Spirent Tests Wi-Fi Network Performance with O2 at the Coca-Cola London Eye17.8.2017 15:57 | Pressemelding
Spirent Communications plc (LSE:SPT), today announced its Landslide E10 network test platform has been used with O2 to validate the Wi-Fi network performance and capacity at the Coca-Cola London Eye, before the launch of a new smartphone application last month. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170817005758/en/ Spirent Landslide E10 helped O2 validate Wi-Fi performance and capacity at the Coca-Cola London Eye, before the launch of a new smartphone application last month. (Photo: Busines Wire) Merlin Entertainments plc, operator of the London Eye, wanted to measure its Wi-Fi network performance, to ensure its infrastructure could provide an excellent experience for users of the new app, which puts increased demands on the Wi-Fi network. “The London Eye is a global attractio
Watch BizWireTV: A Camera You Can Wear and Krispy Kreme’s Famous Donuts Get Eclipsed with Chocolate17.8.2017 12:08 | Pressemelding
On BizWireTV, catch some Quick Biz Hits and see the latest in Star Power. Also see what’s happening in the startup world with the Accelerator Report, featuring the VC Watch and this week’s Startup Standout. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170817005305/en/ BizWireTV is hosted by Jordyn Rolling (Photo: Business Wire Now you can watch BizWireTV, and the latest breakthroughs in tech from the biggest brands, on any screen you want by downloading the new app through the Apple TV and iPhone App Store and Google Play for Android devices. Top of the Wire Introducing FrontRow: the camera re-invented. Watch BizWireTV to see more disruptors as well as the top 5 trending stories of the week! A core c
PsiOxus Therapeutics Announce Two New Board Appointments: New Board Appointments Strengthen Company’s US Presence17.8.2017 07:00 | Pressemelding
PsiOxus Therapeutics, Ltd. (PsiOxus) today announced the appointment of Charles Rowland and Duncan Higgons to the Board of Directors as part of an ongoing drive to expand in the US. Charles Rowland was most recently the President and Chief Executive Officer (CEO) of Aurinia Pharmaceuticals, a clinical stage pharmaceutical company focused on the global lupus nephritis market. Prior to this, he served as the Vice President and Chief Financial Officer (CFO) of ViroPharma, during which time the company grew into a global biopharmaceutical business with $500 million in annual revenues until it was acquired by Shire plc for $4.2 billion. Before joining ViroPharma, Mr. Rowland was executive Vice President, CFO, and interim co-CEO, for Endo Pharmaceuticals. In his earlier career, Charles held finance and operational positions at Biovail Pharmaceuticals, Breakaway Technologies, Pharmacia
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom