Ekkio acquires Sterience

The all-equity transaction was financed via Ekkio's third fund. Having closed on €110m in January 2015, the vehicle typically seeks €5-15m investments into SMEs. With Sterience, approximately half the fund's capital has been deployed, according to Ekkio.

The GP was attracted by the growth potential in the outsourced sterilisation market, as hospitals worldwide seek to more efficient means of managing their operations.

As part of the changes, Johnson & Johnson's Jacques Penicaud was appointed CEO of Sterience.

Sterience is the latest asset to join Ekkio's healthcare portfolio, which includes French drug developer Amatsi, acquired by the GP alongside its management team in October 2010. Additional purchases include Paris-headquartered private laboratory operator Novescia and ionising radiation treatment service Ionisos.

Healthcare is currently one of Ekkio's three areas of focus alongside testing, inspection and certification (TIC) and tourism. The latter includes coach and minibus trip organiser Cityvision and dinner cruise operator La Marina de Bercy, which were acquired by the GP two weeks ago from LBO France. The companies were LBO's last remaining assets in parent group Cityvision barring the Lyon, Nice and Marseille operations of OpenTour, which remain in its portfolio after a partial exit for the business to RATP Développement on 15 June. 

Company
Founded in 2001, Sterience is a healthcare company that sterilises surgical instruments for hospitals in France. Headquartered in Boulogne-Billancourt, France, the business operates eight sterilisation facilities across the country.

Sterience employs a workforce of 260 and most recently posted more than €20m in turnover.

People
Ekkio Capital was represented by its CEO Jean-Marc Scéo. Jacques Penicaud is Sterience's newest CEO.

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