Cinven backed Synlab raises €250m via capital increase

Cinven will remain the majority shareholder of Synlab and Ontario Teachers' Pension Plan will retain its current stake in the company.

The new capital will be used to fund capital investment projects and continue to expand through bolt-on acquisitions of which 34 were completed in 2016.

Synlab was purchased by Cinven in 2015 in a deal worth €1.8bn,which saw previous owners BC Partners reap 2.7x money, and quickly merged it with French medical diagnostics laboratory Labco. It then completed a €190m refinancing of the company in May 2016. 

Prior to Cinven, 40% of Synlab was owned by BC Partners which they acquired in 2009 for an undisclosed amount.

Headquartered in Augsburg and founded in 1998, Synlab provides laboratory analysis for human and veterinary medicine. The business operates in 30 countries and has a headcount of around 13,000. It generates sales of approximately €1.6bn.

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• Topics
• Expansion
• DACH
• Healthcare
• Germany
• Cinven
• BC Partners