MBO Partenaires acquires Icare from Naxicap

MBO Partenaires will acquire the 44% stake previously held by Naxicap and Sofimac, while company CEO and founder Christian Poinsot is retaining a controlling stake in the group.

The transaction represents the first investment made via MBO Capital 4, launched last year and for which the GP is hoping to raise €250m.

Icare notably entered the Brazilian market in 2014 with the acquisition of Medlab. With MBO support, it is hoping to pursue its growth in France and abroad. Germany and the US have been designated as future potential targets, according to the GP.

Debt
According to French financial website Capital Finance, the transaction was not supported by any debt.

Previous funding
In 2012, Naxicap and Sofimac took a combined 44% stake in Icare. Naxicap invested €2.8m, while Sofimac contributed €400,000.

Company
Founded in 1995 by incumbent CEO Christian Poinsot, Icare specialises in contamination control for the healthcare sector.

Based in Clermont-Limagne Saint Beauzire, near Clermont-Ferrand, the company provides an array of services including contamination control, validation, laboratory analysis, consulting, product qualification, clean rooms, biological indicators and sterilisation. The group registered revenues of €13m in 2016, according to several sources.

People
MBO Partenaires – Edouard Malandrin (associate director); Laure Thibierge (investment director); Steve Guyard (associate).

Advisers
Equity – RSM France, Gaël Dhalluin, Philippe de Gridine (financial due diligence); Neovian Partners (commercial due diligence); A2 Risk, Aline Devaux (insurance due diligence); Ydès Avocats, Marcelo Mazzilli, Philippe Delorme (legal).
Vendor – Oaklins, Francisco Diez, Leïla Djebli (corporate finance); Périclès Avocats, Frédéric Chaillet (legal).

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• Topics
• Expansion
• France
• Industrials
• Healthcare
• France
• MBO Partenaires
• Sofimac
• Naxicap