Gimv sells Multiplicom to Agilent Technologies for €68m

The deal saw US-listed life sciences corporate Agilent fully acquire the business for €68m in cash. Existing shareholders were Gimv and Biotech Fonds Vlaanderen (BFV), a venture capital firm owned by the Flemish government and managed by Gimv. In June 2016, the Flemish government decided to transfer BFV's operational management to venture capital firm PMV with Gimv remaining in charge for the existing portfolio companies, including Multiplicom. According to a statement, Gimv managed a combined 42% stake in the business following the deal.

The GP claims a return on the sale above its long-term average return rate, although with a limited additional positive impact on equity value at 30 September 2016.

Previous funding
Both Gimv and BFV participated in the €2m series-A round in April 2011 and subsequently the €5.5m series-B round in February 2013.

Company
Established in 2011 as a spinout from the university of Antwerp and VIB research institute, Multiplicom specialises in the development and manufacturing of molecular diagnostics that enable clinical laboratories to identify genetic variants associated with genetic diseases or predispositions, including cancer.

The company is headquartered in Niel, Belgium, and employs 90 people.

People
Gimv - Christophe Van Vaeck (principal).
Multiplicom - Dirk Pollet (CEO).
Agilent Technologies - Herman Verrelst (vice chair).

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