LGT sells Batisanté to IK Partners

IK pre-empted the auction process and moved into exclusivity at the start of the second round, as first reported by Unquote's sister publication Mergermarket. 

The company was marketed off an adjusted EBITDA of EUR 20m and reported EBITDA of EUR 16m in a Rothschild-led auction, as reported. 

IK is investing via Fund IX, which held a final close in May 2020 at EUR 2.85bn. The fund deploys tickets of between EUR 50m-EUR 150m in companies with an enterprise value of EUR 100m-EUR 500m, as reported. 

The management will reinvest as part of the transaction. 

LGT acquired the company's majority owner European Capital in 2017. European Capital has had exposure to the asset for over a decade, first as a minority investor and later as a majority after the business filed for receivership, as reported. 

Batisanté acquired its main competitor Bouvier, a local fire safety company, in early February. The target had revenues of EUR 40m, as reported. 

IK said it will look to organic growth in core verticals, cement its position in Paris and expand to other regions. 

The company
Batisanté provides compliance and safety services for residential buildings and professional customers. With approximately 500 technicians, the company offers four main services: fire protection, pest control, diagnostics, and maintenance work. 

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• Topics
• France
• Buyouts
• Industrials
• IK Investment Partners
• LGT Capital Partners