Ardian's Ionisos bolts on Leoni Studer Hard

The bolt-on comes four months after Ardian acquired a majority stake in Ionisos via a secondary buyout from Agilitas after an 18-month holding period.

The acquisition marks the first step in a pan-European buy-and-build growth strategy for the group, expanding its geographic footprint into the German, Polish and Czech markets. Ionisos currently operates from six sites across France, Spain and China.

The bolt-on also expands the company’s product range into the construction and automotive sectors, having previously focused on the sterilisation of medical devices, pharmaceuticals, cosmetics and food product packaging.

Company
Founded in 2008 and headquartered in Bautzen, on the German-Polish border, Leoni Studer Hard operates a contract irradiation service centre for components used in the construction and automotive sectors.

The wider Leoni group produces single-core automotive cables, wiring systems, standard and specialised industrial cables and cable management systems. It has a headcount of 76,000 across 32 countries and generates a turnover of #4.5bn.

People
Ardian – François Jerphagnon (chief investment officer); Marie Arnaud-Battandier (managing partner); Arthur de Salins (investment manager).
Ionisos – Laurent Gareau (non-executive chairperson); Michel Gominet (president).

Advisers
Equity – McDermott Will & Emery Rechtsanwälte Steuerberater (legal); Warth & Klein Grant Thornton (financial due diligence, tax).
Vendor – Weil Gotshal & Manges, Paul Leroy, Adrien Coulaud, Kavita Mehta (legal).

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• Topics
• Portfolio management
• France
• DACH
• Germany
• France
• Ardian (formerly Axa PE)
• Build-up