Motion readies Minlay for sale advised by Natixis Partners

Francesca Veronesi and Josh O'Neill
24 February 2022

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Sponsors are warming up to the upcoming sale of Minlay, a French manufacturer and distributor of dental prosthetic devices, previously known as BFCC, according to five sources familiar with the matter.

Its owner Motion Equity Partners has picked Natixis Partners to advise on the deal, the first four sources said.

The company will be marketed off EUR 20m EBITDA, according to all the sources. The business is currently working on some acquisitions and the EUR 20m figure is the pro forma EBITDA, the first source noted.

Private equity firms including Apax, Charterhouse and IK are eyeing the business ahead of the sale launch, the first two sources said.

Information memoranda could be distributed in the next few weeks, the second and third sources said. The launch could take place in 2Q or even 3Q, the first, fourth and fifth sources cautioned.

Minlay's growth prospects are promising, given its buy-and-build options in Europe, the first source pointed out. It has doubled in size under Motion's ownership, with the business generating around EUR 10m EBITDA when it was acquired in 2017, the fifth source said.

Headquartered in Paris, Minlay operates dental prothesis laboratories based in France, Germany, the Netherlands, and Belgium. It manufactures fixed, removable, implant-supported, aesthetic, and orthodontic prothesis used by dental surgeons. The business employs around 400 people, according to its website.

Minlay, Motion, and Natixis Partners did not reply to a request for comment, while Apax, Charterhouse and IK declined to comment.