Eurazeo in exclusivity for Sevetys acquisition

The investment in Sevetys is expected to be made through the funds managed by the teams of Eurazeo Mid Cap, according to a statement.

Last year, Eurazeo launched Eurazeo PME IV, the fourth generation of its PME funds targeting France-based mid-market businesses. The fund is looking to raise EUR 1bn for the fund this year.

The transaction remains subject to the consultation process of the employees’ representative bodies and to the approval of the transaction by the French competition authority, according to the statement.

Eurazeo was vying for the business, which has more than 200 clinics throughout France, alongside the PE team of Ardian and infrastructrure fund Antin in the second round, according to media reports. Mergermarket was the first to report on the exclusivity.

Sevetys reportedly generates around EUR 120m in revenue and could be valued by as much as 20x EV/EBITDA multiple.

There has been recent interest in the veterinary space by infra investors in France, as was seen with InfraVia recently acquiring a minority stake in Univet from Platina Partners, although the deal has yet to close, according to Inframation.

Company
Founded by CEO Daniel Einhorn in 2017, Sevetys is a chain of veterinary clinics in France with more than 200 clinics throughout the country.

People
SEVETYS - Daniel Einhorn (CEO).

Advisor
Vendor - Transaction R (M&A).

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• Topics
• Buyouts
• France
• Healthcare
• Eurazeo
• Mid-market buyout
• France