Omnes invests €60m in Biofutur's MBO

The company's management team reinvested in the deal alongside the GP.

Unquote reported in November 2019 that Omnes had entered talks to acquire a controlling stake in the business.

The GP's mid-market team was in charge of the transaction, which was made via Omnes Croissance 4 and a co-investment vehicle dedicated to the deal, underwritten by fund-of-funds and family offices.

Biofutur is the 12th investment from Omnes Croissance 4, which closed on €210m in 2017, exceeding its €180m target. The fund invests in French SMEs with a turnover that falls within the €25-180m range, investing equity tickets of €8-25m.

The GP plans to double Biofutur in size over the next five years, and expand its offering. Several merger opportunities with other groups are currently being considered, according to a statement.

Company
Established in 1975 and based in Meaux, Biofutur specialises in diagnostic analysis and speciality examinations, including medically assisted procreation and toxicology. It operates a group of laboratories managed by independent medical biologists.

The company has 51 sites, mainly located across the Île-de-France region, as well as two technical platforms and three emergency centres.

The group employs 500 staff, including 60 biologists, doctors and pharmacists, and serves 6,000 patient per day. Biofutur generated EBITDA of around €5m from revenues of €71m in 2019.

People
Omnes Capital – Benjamin Arm (managing partner); Yoann Malys (director); Etienne Chemel (principal).
Biofutur – Christophe Crouzier (chair).

Advisers
Equity – Winston & Strawn (legal, tax); Winston & Strawn (financial due diligence).
Company – Gate Avocats (legal); LEK (operational due diligence); Eight Advisory (corporate finance).

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• Topics
• Buyouts
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• Omnes Capital
• France