PE-backed AES Laboratoire sold for €183m

bioMérieux, a listed French biotech company, has agreed to acquire 100% of the company's capital. The transaction should close during the third quarter of 2011 and is subject to antitrust approval.

The buyer believes the two businesses are highly complementary and that AES Laboratoire's solutions, especially in lab automation and rapid microbiology, are aligned with its 2015 strategic goals. According to AES and Abénex, an alliance with bioMérieux offers the best option for growth, especially on a global scale.

Previous funding
Abénex (then ABN AMRO), EPF Partners, Fortis PE and BNP Paribas took AES Laboratoire private in 2003, a deal valued in the region of €116m. Abénex took a majority stake in the business, while management retained 34% of the capital.

Company
Founded in 1981, AES Laboratoire specialises in industrial microbiological control. The company employs around 400 people, with R&D and manufacturing sites located in France and Canada, in addition to four commercial subsidiaries. AES' commercial and administrative headquarters are based near Rennes.

AES Laboratoire posted a €76m turnover in 2010.

People
Abenex Capital was represented by Hervé Claquin, Mathieu Queré and David Mizrahi. Alain Le Roch is founder and chairman of AES Laboratoire.

Advisers
Vendors - BNP Paribas, André Louis Valière, Michael Bredael (Corporate finance); Mayer Brown, Guillaume Kuperfils, Emmanuel Mimin, Carole Sabbah (Legal); Deloitte, Claire Deguerry, Christèle Fraisse (Financial due diligence).

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• Topics
• France
• Exits
• Healthcare
• France
• Trade sale
• Abénex Capital
• EPF Partners
• Fortis
• BNP Paribas