European PE deal multiples declined to 9.9x in the first quarter of 2018, according to the recently released Clearwater Multiples Heatmap Q1 2018 Update, the first time the average multiple has fallen to single digits since Q1 2016.
In addition, Agroponiente bolts on Lara Castañeda and increases its stake in Vegacañada
Development comes three years after the GP invested £8m in the construction equipment business
Existing investor Bayern Kapital also takes part alongside new investor Vesalius Biocapital
3i acquires the company for up to €16m, of which €8.7m was deployed on signing the deal