LBO France to sell Medi-Partenaires
LBO France is planning to sell its stake in French clinic operator Medi-Partenaires, according to media reports.
It is understood Rothschild has been mandated to manage the estimated €1bn sale. LBO and Medi-Partenaires' managers currently own the majority on the company. The management is reportedly re-investing its proceeds.
LBO backed the €600m buyout of the company in 2007, alongside Barclays Private Equity, in a deal supported by debt and mezzanine financing from Credit Agricole and Intermediate Capital.
During LBO's three-year holding, the company has seen its revenues double, from about €228m in 2007, to its estimated current levels of about €500m.
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