Gimv buys France Thermes

Management invested in the company alongside Gimv.

Normandie Capital Investissement, Initiative et Finance and Volney Développement have fully exited the business.

Gimv has previous experience of investing in the healthcare sector in France. The GP acquired a stake in the regional French hospital group Almaviva Santé in 2013 and supervised several acquisitions. At the end of 2017, Almaviva was sold to Antin Infrastructure Partners.  Almaviva Santé was the first investment of the Gimv Health & Care Fund, which was launched in 2013. It is also the fund's first exit.

Earlier this week, Gimv invested €7m in Foundry Innovation and Research 1 (FIRE1), an Irish company active in digital healthcare with a focus on cardiac monitoring.

Previous funding
Normandie Capital Investissement, Initiative et Finance and Volney Développement acquired the business together with group chair Sylvain Serafini in 2013.

Company
France Thermes operates two thermal centres in Bagnoles de l'Orne (Normandy) and Châtel-Guyon (Auvergne). The two spas attracted around 20,000 guests in 2017, generating a turnover of €19m.

People
France Thermes - Sylvain Serafini (CEO).
Gimv - Gautier Lefebvre (principal); Benoit Chastaing (partner).

 

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• Topics
• Buyouts
• Exits
• France
• Healthcare
• France
• Gimv
• Secondary buyout