CVC to take over 3i's Vedici

Vedici's founders and managers are due to increase their shareholding alongside CVC in the transaction, which is still subject to regulatory approvals.

Lenders were reported to be working on a debt package worth up to €400m, including around €250m of senior debt, to finance the deal at the end of May.

3i and Nixen purchased a combined 65% stake in Vedici in 2010, which gave the firm an enterprise value of €200m. 3i secured 55%, while Nixen acquired 10% and the founding directors Jérôme Nouzarède and Michel Bodkier retained the remaining 35% with the management team. The deal saw Apax France and its listed vehicle Altamir Amboise sell the 40% stake in the firm they had purchased in January 2006. Debt for the transaction was led by Natixis and was rolled over from the 2006 transaction.

Company
Established in 2000, Vedici is a private healthcare group operating 35 clinics primarily focused on medicine, surgery and obstetrics. It employs 5,300 staff and reportedly posted a €45m EBITDA in the past year.

People
Jérôme Nouzarède and Michel Bodkier are the co-founders of Vedici.

Advisers
Equity – JP Morgan (M&A); Rothschild (M&A).
Vendors – Lazard (M&A); BNP Paribas (M&A); Societe Generale (M&A).
Management – Callisto (M&A).

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• Topics
• France
• Buyouts
• Exits
• Healthcare
• France
• CVC Capital Partners
• 3i
• NiXEN
• Secondary buyout