Manufacturer of instruments and reagents for in-vitro diagnostics

Sebia is a world leading manufacturer of instruments and reagents for in-vitro diagnostics. It was founded in 1967 by Guy Barouh, its Chief Executive Officer. The company's head office, research and production facilities are located in Lisses, South of Paris, France.

Sebia’s technology is based on electrophoresis, the process through which a sample is analysed under the influence of an electric field. The electrophoresis of proteins contained in human serum allows clinicians to provide a precise diagnostic for various types of diseases such as certain cancers and haemoglobin deficiencies.

In September 2006, Montagu acquired a majority stake in the company. Through this transaction, management acquired approximately 20% of the capital and former investors Astorg and Intermediate Capital Group re-invested in the transaction for a minority stake.

Montagu chose to back Sebia based on the quality of its management, the market positions, its technological leadership and the growth prospects of the investment. Along with the management of the company, Montagu identified an opportunity to grow market share in existing and new geographies by supporting the development of next generation equipment and developing the R&D pipeline for new reagents.

In 2008, Benoît Adelus, BioMérieux’s former CEO, joined Sebia, succeeding Guy Barouh as CEO. Since the acquisition and under Benoit Adelus’ leadership, Sebia has performed strongly within its core markets whilst pushing into new high growth areas. The company has been able to both increase market shares in existing markets and significantly expand its global footprint, including a successful entry into such high-potential markets as Brazil and China.

The robust performance of the business under Montagu's ownership was a key driver of the strong interest shown by a number of potential acquirers and, after a short sale process, the company was acquired by Cinven in June 2010.

Deal details

Deal type: Management Buyout Investment Year: 2006 Country: France Status: Realised Value: Undisclosed Industry Sector: Healthcare