Ardian acquires Bio 7 stake from Chequers Capital

Chequers initially acquired a stake in Bio 7 in 2009. Under the GP's stewardship the company undertook an acquisitive growth strategy. The company intends to continue with its buy-and-build strategy in partnership with Ardian.

Ardian has made numerous investments in recent weeks. Recent deals saw the GP acquire a 20% stake in Ikoula, a France-based cloud hosting company; buy Italian software firm RGI Group from 21 Investimenti; and acquire German toy manufacturer Schleich from HgCapital.

Company
Founded in Essonne in 1998, Bio 7 is an operator of routine clinical pathology laboratories. It has a headcount of around 330 and also has operations in Seine et Marne and Yvelines.

In 2014 the company expects to generate a turnover of more than €55m.

People
Frédéric Barroux, is chairman and founding biologist at Bio 7. François Jerphagnon is the managing director in the expansion team at Ardian and worked on the deal alongside Marie Arnaud-Battandier, Francois Parmentier and Arthur de Salins. Anne-Claire Louvet Boutant is a partner at Chequers and worked on the deal alongside Axelle Dumousset and Aurélien Klein.

Advisers
Equity – Leonardo, Francois Rivalland, Joseph El Khoury, Philippe Charbonnier (Commercial due diligence); Latham & Watkins, Olivier du Mottay, Cyril Boulignat, Lionel Dechmann, Jerome Commercon (Legal); KPMG, Adam Thorpe, Benoit Roblin, Olivier Boumendil (Commercial due diligence, Financial due diligence); Landwell, Jean Melcion (Legal, tax); Fieldfisher, Olivier Lantres (Legal).
Vendor – Transaction R, Pierpaolo Carpinelli, Pierre Sader, Amélie du Chalard (Corporate finance); Weil Gotshal & Manges, Frédéric Cazals (Legal).
Management – Hottinguer Corporate Finance, Pierre Durand de Bousingen, Philippe Bonhomme, Philippe Bassouls, Djilali Bou-Abdallah (Financial due diligence); Desfilis & McGowan, Frédéric Pinet, Guillaume Giuliani (Legal).

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• Topics
• France
• Healthcare
• Expansion
• Secondary buyout
• Ardian (formerly Axa PE)
• Chequers Capital