Astorg and Montagu Private Equity to enter exclusive negotiations to sell their remaining majority stake in Sebia
Paris | 12 October 2017
12 October 2017 - Montagu Private Equity (“Montagu”) and Astorg Partners (“Astorg”) today announce that they have entered into final exclusive negotiations with respect to the sale of their remaining majority stake in Sebia, a world leading manufacturer of instruments and reagents for in-vitro diagnostics, to CVC Capital Partners Strategic Opportunities (“CVC”) and Téthys Invest.
After the partial sale to Caisse de Dépôt et Placement du Québec (“CDPQ”) announced in August 2017, this transaction would complete Astorg’s and Montagu’s exit from Sebia. CVC and Téthys Invest would therefore join CDPQ and the company’s management as shareholders of Sebia.
Founded in 1967, Sebia is a world’s leading provider of clinical protein electrophoresis equipment and reagents, a technology used for in-vitro diagnostic testing. Its systems analyse proteins in order to screen and monitor various diseases and conditions; primarily oncology (multiple myeloma), metabolic disorders such as diabetes and also hemoglobinopathy and rare pathologies. The company is headquartered in Lisses, France, and operates across more than 120 countries.
Over the past three years, Montagu and Astorg have supported management’s strategy, which has allowed Sebia to develop significantly in the global myeloma diagnosis market, successfully penetrate the diabetes market, reinforce its presence in certain export markets by acquiring the Italian company Interlab, and announce its entry into the free light chain market.
Benoît Adelus, Chairman of Sebia, said: “I would like to thank both Astorg and Montagu teams for their strong support over the past three years. We welcome CVC and Téthys Invest as new shareholders of Sebia. Together with CDPQ and management, our new shareholders support our strategy and growth plans with a long term view. We look forward to reinforcing Sebia’s franchise and expand its product and geographical footprint.”
The contemplated transaction remains subject to workers’ council information and consultation and to the approval of relevant regulatory authorities. The terms of the transaction were not disclosed.