Eurazeo buys Péters Surgical from UI Gestion

The transaction includes an equity injection of around €30m. LCL, Société Générale, Palatine and CIC-Banque Populaire Rives de Paris provided a senior debt package to support the transaction.

The GP bought a stake of around 90%, with the company's management retaining the balance.

The new owner will pursue an organic and acquisitive growth strategy, with a particular focus on the internationalisation of the firm.

Previous funding
In 2009, UI Gestion acquired Péters Surgical from Groupe Sofilab in a management buyout that saw the GP acquire a majority stake in the firm, alongside CDC Entreprises and NCI Gestion.

The deal comprised a €10m equity injection, 60% of which was committed by UI Gestion.

LCL provided a senior debt package of less than €5m to support the deal.

Under the ownership of UI Gestion, CDC and NCI, the firm has grown both organically and acquisitively. At the time of the investment, Péters Surgical reported a €24m turnover.

Company
Founded in 1926 and headquartered in Bobigny, Péters Surgical designs, produces and distributes disposable medical equipment for surgical procedures.

The company's products are distributed in more than 75 countries by strategic partners abroad.

The firm employs 350 members of staff and reported a €37m turnover in 2012, half of which originated abroad.

People
Olivier Jarrousse and François Gressant worked on the deal for UI Gestion. Emmanuel Laillier, Erwann Le Ligné and Rodolphe de Tilly led the deal for Eurazeo. Arnaud Legardeur and Alexis Guignard represented CDC Entreprises, with Anne-Cécile Guitton leading the deal for NCI Gestion.

Advisers
Equity – Invest Securities, Bertrand Le Galcher Baron, Raphaël Rossello, François-Xavier Roy (Corporate finance); Dechert, Alain Decombe, Anne-Laure Marcerou, Bruno Leroy, Philippe Thomas, Anne-Charlotte Riviere-Wilson, (Legal); Tilleke & Gibbins (Legal); Deloitte, Cyril Stivala, Frederique Chenevoy, Julien Pechalat (Financial due diligence); Deloitte France, Laurent Lhopitallier (Environmental due diligence); Ernst & Young, Didier Desert, Eric Gallardo, Stephanie Daireaux (Commercial due diligence); MedC Partners, Marie-José Moschetti (Commercial due diligence); SATEC, Pierre Le Morzadec, Isabelle Rousseau (Insurance due diligence).
Vendor – Transaction R, Fabien Lenoir, Anthony Benichou, Joséphine Theron (Corporate finance); Serge Cohen (Legal); Bellot Mullenbach & Associés, Herve Krissi (Financial due diligence).
Management – Serge Cohen (Legal), Mayer-Brown (Legal); Celeste Consulting, Jean-Philippe Roux-Viola (Corporate finance).

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• Topics
• France
• Healthcare
• Buyouts
• Exits
• France
• UI Gestion
• Eurazeo
• CDC Entreprise Innovation
• NCI Gestion