AXA PE’s Synerlab makes two acquisitions

Both acquisitions were funded from the company's existing balance sheet.

Lyofal specialises in freeze-drying, while IDD-Tech Orléans focuses on the development of solid dosage forms.

The acquisitions enlarge Synerlab to a firm with five sites, which will employ 700 people and have an €85m turnover.

AXA PE acquired Synerlab in 2007 and began its buy-and-build strategy in 2010 with the acquisition of Pharmaster, a third party manufacturer in sterile, liquid preservative-free forms.

Company
Founded more than 20 years ago and based in Salon-de-Provence, Lyofal specialises in custom-lyophilisation (freeze-drying) for pharmaceuticals, cosmetics and biotechnology.

IDD-Tech Orléans focuses on pharmaceutical solid dose formulation and analytical drug development. The company, which will now be known as Synerlab Développement, was founded in 2008 and employs 20 members of staff.

People
François Jerphagnon is managing director of small market enterprise capital at AXA PE.

Advisers
Acquirer (Synerlab) – Fried Frank, Noam Ankri (Legal); Fidal, Jean Fernous (Legal); Philippe Wittner (Legal); Eurohold, Pascal Vieilledent (Corporate finance).
Company (Lyofal) – Leonardo Midcap Corporate Finance, François Rivalland, Virginie Nicolay (Corporate finance); CMS Bureau Francis Lefebvre, Jean-Thomas Heintz (Legal); Mazars, Pierre Beluze (Financial due diligence).

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• Topics
• France
• Healthcare
• Portfolio management
• Acquisition finance
• Axa Private Equity