BC Partners has made a binding offer of $1.3bn to Electra Partners for its French animal tags business Allflex, following an intense auction process that attracted bids from a dozen private equity firms.
Deal gives the waste management and decontamination company an equity valuation of £16m
GP initially acquired a €10m loan in the Italian stationery manufacturer in June 2016
Company will use the extra funding to further develop its software platform and hire more staff
New funding will be used to focus efforts on a phase II study for the prevention of pneumonia