Andera carves out Ingenico's health business

The GP invested via its Cabestan Capital 2 fund, which closed in September 2016 on €165m. The deal represents the 12th transaction for the vehicle and its second carve-out. The division will be rebranded to Olaqin following the deal. 

A pool of banks led by Caisse d'Epargne Ile-de-France and BNP Paribas provided debt for the transaction. The leverage level remains moderate, according to a statement by Andera.

Founded in 1980 and based in Paris, fintech business Ingenico provides the technology involved in secure electronic transactions. It has been listed on the Paris stock exchange since 1985. The company generated a €2.6bn turnover and posted a €488m EBITDA in 2018.

Company
The acquired division provides card terminals to pharmacies, private health professionals and hospitals. It employs 40 staff and generates revenues of €16m.

People
Olaqin – David Lévy (president); Laurent Maitre (director).
Andera Partners – Mayeul Caron, David Robin (partners).

Advisers
Vendor – Bryan Garnier & Co (M&A); LWA Associes (legal).

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• Andera Partners
• Carve-out