BDC acquires Acteon

The deal saw Edmond de Rothschild Capital Partners selling its majority stake to BDC. Edmond de Rothschild Capital Partners was acquired by Bridgepoint in 2014, although the financial structures are still kept separate for the time being.

According to a statement, the fresh capital will allow the company to expand in the fragmented dental products sector through add-on acquisitions, boosting the business's geographical reach and developing its product capabilities.

Private debt investors Capzanine and European Capital provided financing to support the transaction.

Acteon is the second investment in France made by Bridgepoint from its €350m Bridgepoint Development Capital II fund. In January 2016, the fund acquired French electronic equipment producer Anaveo.

Previous funding
Edmond de Rothschild Capital Partners led an SBO for Acteon in 2005, acquiring a 51% stake. According to unquote" data, the deal was valued at €134m. Previous investors ABN Amro and XAnge Private Equity fully exited the business.

Company
Acteon is headquartered in Mérignac, near Bordeaux, and span out from Sanofi in 1991. The company designs, manufactures and distributes dental equipment, operating four manufacturing facilities and employing 750 professionals.

The company claims to generate a turnover of €138m, with 80% coming from exports.

People
Bridgepoint – Olivier Nemsguern (partner).
Acteon – Marie-Laure Pochon (CEO).

Adviser
Equity – Lincoln International (M&A); Mayer Brown (legal); Deloitte (tax, financial due diligence); LEK (commercial due diligence); Taj (commercial due diligence).
Company – DC Advisory (corporate finance); DLA Piper (legal).

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• Topics
• Buyouts
• Healthcare
• France
• Exits
• France
• Bridgepoint
• Secondary buyout