Investindustrial acquires Lifebrain

The financing for the transaction was underwritten by UniCredit, Natixis and Raiffeisen Bank International as mandated lead arrangers and bookrunners, while UniCredit and Natixis acted as global coordinators.

The GP is deployed capital from its Investindustrial VI Fund, which held a final close on its €2bn hard-cap in February 2016, three months after launch. The vehicle mostly targets mid-market companies with strong internationalisation potential headquartered in southern Europe.

Following the deal, Michael Havel, who founded the company in 2013, will remain as CEO to lead the company through its next phase of growth, which will be focused on further consolidation in the Italian market through add-on acquisitions and on the internationalisation of the business.

Previous funding
Lifebrain was initially funded with capital raised from several Austrian private investors.

Company
Based in Vienna, Lifebrain owns a network of nearly 200 laboratories and small and medium-sized diagnostics centres located in Italy.

The company was founded in 2013 by Michael Havel and Bernhard Auer, previously co-founders and managers of FutureLab, an Austrian hospitals and laboratories operator, which was acquired by BC Partners in 2009 and merged with Synlab.

In 2017, Lifebrain generated revenues in excess of €100m.

People
Lifebrain – Michael Havel (CEO); Bernhard Auer (CFO).
Investindustrial – Carlo Umberto Bonomi (managing principal).

Advisers
Equity – Studio Legale Chiomenti (legal); PwC (tax); Boston Consulting Group (commercial due diligence); JP Morgan (financial due diligence).

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