LBO France acquires pharmaceutical distributer Piex

The deal sees the GP acquire a majority stake in the business, while Bertrand Talbotier and the company's management team have acquired a minority holding alongside asset management firms AfricInvest Europe, BNP Paribas Développement, French investment bank BPI and alternative lender Trocadéro Capital Partners.

Following the deal, Talbotier will become CEO and lead a new management team. The business aims to expand its client base internationally and extend its product portfolio.

Company
Founded in 1979 and headquartered in Paris, Piex distributes pharmaceutical products and alternative medicines across French-speaking sub-Saharan Africa. The business exports 750 products across 30 countries.

According to a statement, the company has generated a 12% compound annual growth rate in its revenues since 2005. In 2016, it posted an €80m turnover.

People
LBO France – Jean-Marie Leroy (partner); Emmanuel Fiorentino (investment manager); Karine Callec (general counsel).
Piex – Bertrand Talbotier (CEO).

Advisers
Equity – Grant Thornton (corporate finance); Jeantet (legal).

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