AXA PE provides additional €100m to Ceva
AXA Private Equity has injected a further €100m into portfolio company Ceva Santé Animale, a veterinary health company.
The fresh funding, in the form of a bond financing line underwritten by AXA PE, will support the company's plans for international expansion.
The GP first invested in the company in 2007, making a capital commitment of €30m. The company's management became majority shareholders in the firm in 2007 as part of an LBO including NiXEN and Euromezzanine. IK Investment Partners, the vendor, enjoyed a 40% IRR on the sale of the company. In 2010, Sagard became a shareholder in the firm.
Company
Founded in 1999 and based in Libourne, Ceva is a veterinary health company. The firm focuses on the research, development, production and marketing of vaccines and pharmaceuticals for household animals, livestock, swine and poultry.
Ceva employs more than 3,000 staff in 43 countries and has a sales forecast of around €600m for 2012.
People
Cécile Mayer-Levi is co-head of AXA PE Private Debt and worked on the transaction alongside Guillaume Chinardet and Grégory Pernot.
Advisers
Equity (AXA PE) – Willkie Farr & Gallagher, Paul Lombard, Igor Kukhta, Virginie Syag (Legal).
Management – Weil Gotshal & Manges, David Aknin, David Malamed (Legal).
More on France
MML buys majority stake in sponsor-backed Freeland
Existing investors IDI and Chevrillon will reinvest in the France-based freelance HR and IT platform as part of the SBO
Deals face further financing uncertainty after Credit Suisse rescue
Delayed return of stabilized M&A conditions expected, advisors say; mid-cap transactions stand to fare best
Lenders sway fate of auctions in volatile LBO market
Vendors increasingly sounding out lenders before bidders to navigate uncertain M&A landscape
Keyhaven eyes Q4 2023 fund launch amidst lower mid-market GP-leds boom
Secondaries firm looks ahead to fourth fund; sweet spot of EUR 50m-100m for deals but can go up to EUR 500m
Latest News
Quadrivio plans first close for EUR 500m Lifestyle Fund II by mid-2023
Italy-based GP will expand predecessor Made in Italy vehicle’s focus beyond Italy to target European SMEs
AnaCap reaps 4.3x on MRH Trowe minority stake sale to TA Associates
German insurance broker will now be backed by both GPs; deal comes 2.5 years into AnaCap's investment period
Bregal poaches Carlyle exec for new chief investment officer role
Ryan Selwood’s appointment follows other recent senior hires, including a chief people officer and a chief technology officer
Cinven’s indicative EUR 10 per share Synlab bid seen as below fair value
Sponsor listed the laboratory testing service provider at EUR 18 per share in 2020
