Ardian buys minority stake in H2 Pharma

Unquote understands that Ardian invested a ticket of €15-25m in a deal that gives the company an enterprise value of €50-100m.

The GP invested via Ardian Growth II, which closed on €230m in April 2018, surpassing its initial €200m target. The fund acquires both minority and majority stakes, providing equity tickets in the €5-25m range to European companies with turnover of €5-100m.

This is the first investment made by the fund in the healthcare sector.

H2 Pharma plans to use the fresh capital to boost its growth in its operating markets and strengthen its strategic positioning.

The investment will also allow the company to consolidate its share of the European market, reaching a production line of 100 million units per year and increasing its international scope.

In addition, Ardian will assist the management team in diversifying the company's offering by adding new areas of growth such as regulatory affairs and quality control.

Company
Established in 2009 and headquartered in Bois-d'Arcy, H2 Pharma specialises in the production of non-sterile liquid pharmaceuticals, including medicinal syrups and oral solutions for pharmaceutical laboratories.

The company's activity spans from the sourcing of active ingredients to the manufacturing of finished products, and includes the management of the entire advanced research and development phase until achieving marketing authorisation.

People
Ardian Growth – Frédéric Quéru (director); Florian Dupont (senior investment manager).
H2 Pharma – Henry Hassid (CEO).

Advisers
Ardian – McDermott Will & Emery (legal, tax); Deloitte (financial due diligence).
Company – Orsan (legal, tax); Aca Nexia (financial due diligence).

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• Topics
• Buyouts
• France
• Healthcare
• Ardian (formerly Axa PE)
• France
• McDermott Will & Emery
• Deloitte