Sagard buys Nutrisens from Evolem, Unigrains

Following the deal, Nutrisens' management team, led by CEO Georges Devesa, will stay on with the business and retain a significant stake in the company.

Idinvest Partners arranged a debt package to support the deal.

Unigrains invested in Nutrisens in March 2017. As part of the deal, the GP acquired a minority stake from existing owner Evolem, a French family office, which retained a controlling stake in the business.

Under Unigrains and Evolem's ownership, the company has made eight add-ons, entering new geographies and expanding its customer base.

Company
Established in 2011 and headquartered in Lyon, Nutrisens specialises in health and medical nutrition, developing dietary therapies to address long-term conditions and pathologies such as malnutrition, dysphagia and specific intolerances.

The company serves 10,000 clients, primarily hospitals, pharmacies and medical centres, across France, Belgium, Italy and Spain.

Employing 409 staff across five production facilities, Nutrisens generates annual revenues of around €87m.

People
Sagard – Antoine Ernoult‐Dairaineet, Maxime Baudry (partners).
Evolem – François Noir, Sandrine Escaleira (partners).
Nutrisens – Georges Devesa (CEO, founder).

Advisers
Acquirer – Mayer Brown (legal); PwC (financial due diligence); LEK (commercial due diligence).
Vendors – Amala Partners (M&A); Volt (legal); 8Advisory (financial due diligence); Roland Berger  (commercial due diligence); Alcya Conseil (tax).

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