BELGIUM - 3i backs EUR 728m buyout of Labco

A EUR 200m equity investment was provided to support the transaction, with 3i investing EUR 140m and the balance being supplied by a syndicate comprising TCR Capital, Natixis Investment Partners and CIC Finance. Management and private investors contributed EUR 58m, with the management retaining a majority stake in the business, while the balance was provided in the form of a debt package comprising both senior and mezzanine tranches.

Labco offers medical diagnostic services to patients through its network of 250 hospitals spread across six countries. The company was founded in 2003 by Eric Souêtre and Stéphane Chasssaing, the current president and director general. Between 2004 and 2007 Labco completed 45 build-up acquisitions, with another 15 planned to be completed in 2008.

The investment will accelerate the company’s development in France, Spain, Portugal, Germany, Italy and Belgium. Densi Ribon and Richard Bishop of 3i will join the company’s board.

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• Topics
• Expansion
• Benelux