Fosun acquires PE-backed Tridem Pharma for €63m

Francesca Veronesi
03 November 2017

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Shanghai Fosun Pharmaceutical Group has acquired a majority share in private-equity-backed Tridem Pharma, a drug distributor in French-speaking African countries, for up to €63m.

The company is planning to establish more facilities in Africa and commercialise new products, such as vaccines.

The company's founders and management, as well as GPs Paluel-Marmont Capital (PMC) and Multicroissance, backed Tridem's OBO in 2011. Paluel-Marmont and Multicroissance invested €4m and €1m respectively, and both held 20% stake in the company, according to unquote" data.

A spokesperson for LT Capital confirmed Fosun has acquired a majority stake. No debt was used for the transaction.

In June 2017, a group of investors who had worked for PMC for 15 years founded LT Capital, which inherited two funds previously managed by PMC. These included the Tridem investment.

Company
Tridem was founded in 1986, its headquarters are in Escalquens and the company generates a turnover of €85m. It distributes pharmaceutical products in 21 French-speaking African countries. Its main offices in Africa are in Abidjan.

People
Tridem Pharma – Gérard Baylé (owner).
LT Capital – François-Xavier Deren, Véronique Policard (managing partners).

Advisers
Acquirer – Mayer Brown, Hadrien Schlumberger (legal).
Vendor – Natixis Partners, François Rivalland, Joseph El Khoury, Bertrand Duquesne, Philippe Charbonnier, Patrice Raulin (M&A); Hogan Lovells, Stéphane Huten (legal); KPMG (financial due diligence).