Ardian to exit Laboratoires Anios to Ecolab

Ecolab bought the company from co-owners Bertrand (CEO) and Thierry Letartre (deputy CEO) and external investor Ardian, which first entered the company via an MBO in October 2013. The parties entered exclusive negotiations in June 2016 and completed the deal on 1 February 2017.

Ardian said it wished to find a long-term shareholder to continue supporting Anios's growth. The GP implemented a buy-and-build strategy for the company, completing a few bolt-on acquisitions during its holding period, the most recent of which were French company Hysis and Barcelona-based Inibsa Hospital in late May. 

Over the past three years, Laboratoires Anios achieved consistent growth, strengthening its position in three areas: hospitals and clinics, international trade, and the value chain for endoscope washer-disinfectors, the GP reports.

Other acquisitions completed by the GP included Soluscope in France in 2014, followed by the acquisition of a majority stake in Endoclear in Brazil, and Deren in Turkey the following year. Overall, the group achieved growth of around 25% in turnover, 55% in EBITDA and 56% in headcount during this period.

Previous funding
In October 2013, Ardian supported the management buyout of Laboratoires Anios, acquiring a majority stake in a deal valued between €250-500m. The company was previously owned by French multinational Air Liquide. The GP was planning to drive the group's international expansion via a buy-and-build strategy, with a heavier focus on R&D.

Company
Founded in 1898, Anios specialises in disinfection for the healthcare sector, including hospitals, clinics and medical professions. The group is also active in the food processing, cosmetics, pharmaceutical, lodging and catering sectors.

Present in 80 countries, the company generated revenues of €220m in 2015. The firm's two principal production sites are located in France. Anios currently employs 700 people around the world, of which 540 are located in France.

People
Ardian – Philippe Poletti (head of mid-cap buyout); Thibault Basquin (managing director); Alexandre Vannelle (director); Alexis Manet (investment manager). 

Advisers
Vendor – EY, Gratien de Pontville, Stéphane Seguin (financial due diligence); Oddo Corporate Finance, Frédéric de Villèle (M&A); Weil Gotshal & Manges, David Aknin, Jean-Baptiste Cornic, Romain Ferla (legal); EY Société d'Avocats, Lionel Benant, Jean-Christophe Sabourin, Julie André (legal); Latham & Watkins, Xavier Farde (legal). 

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• Topics
• Exits
• Industrials
• France
• France
• Ardian (formerly Axa PE)
• Trade sale