FSI Régions backs Axonal OBO

The group's founders and managers reinvested in the transaction. BNP and Crédit Agricole provided a debt package to finance the buyout.

FSI Régions invested via its €140m FCPR AED fund. The vehicle invests up to €4m per transaction and has so far made an average contribution of €1.4m across 48 deals.

The new capital structure will allow Axonal to pursue bolt-on opportunities in order to drive growth.

Company
Founded in 1989, Axonal provides project support to pharmaceutical companies, medical device manufacturers and not-for-profit sponsors in the management of clinical trials, pharmaco-epidemiological studies, surveys and observational studies.

The Nanterre-based business posted a €3.9m turnover and €90,000 EBITDA in 2010.

People
Cyril Chaumien and Serge Mesguich led the deal for FSI Régions. Denis Comet and Jean-Pierre Meunier are co-founders of Axonal.

Advisers
Equity – ACA François Mahe (Financial due diligence).
Management – 3S Finance (Corporate finance); Curtis (Legal).

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