3i-backed Ponroy buys Densmore

It is the second bolt-on the group has made since 3i's initial buyout of the business alongside Cathay Capital Private Equity in November 2016.

3i also supported the acquisition of Ersa, the owner of the Aragan and Synactifs brands, in September 2017.

Ponroy was acquired for an equity investment of €180m in 2016, comprising €150m from 3i and €30m from Cathay. The business reported EBITDA of €25m from €170m in sales at the time.

Company
Densmore was founded in 1946 and is headquartered in Monaco. Its main brand, Suveal Duo, is a supplement designed to fight age-related macular degeneration, a non-curable chronic disease affecting patients' vision. The company has recorded annual organic sales growth of 17% since 2007 and is expected to generate close to €13m in sales in 2018.

People
3i Group – Guillaume Basquin (director).
Ponroy – Nicolas Brodetsky (vice-president).
Densmore – Philippe Caron (CEO).

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