Duke Street acquires Biomnis for €217 million

Duke Street, the European mid-market private equity firm, has acquired Biomnis, a France-based provider of medical diagnostics, for a total consideration of €217 million (£174 million).


Duke Street, the European mid-market private equity firm, has acquired Biomnis, a France-based provider of medical diagnostics, for a total consideration of €217 million (£174 million).

Duke Street, the European mid-market private equity firm, has acquired Biomnis, a France-based provider of medical diagnostics, for a total consideration of €217 million (£174 million).

Biomnis has laboratories throughout France, operating from two main sites in Paris and Lyon, with further sites in Dublin and Dubai.

The company has revenues of more than €220 million and employs over 1,600 staff, a large proportion of them being scientists and biologists.
 
Post acquisition, Duke Street will support the company’s expansion plans. The deal provides continuity with the current CEO, Jean-Louis Oger, taking up the role of non-executive chairman and Pierre-Yves Guiavarch joining as CEO from healthcare services group General de Sante. Duke Street operating partners Charles Woler and Thierry Paternot will join the board as non-executive directors, providing further support to the management team.
 
The deal is financed by a senior debt facility arranged by Fortis and a mezzanine facility arranged by AXA Mezzanine.
 

 

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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