Paris, August 26, 2021
Eurazeo today announced that it has entered into exclusive discussions to sell its stake in Seqens to SK Capital and to the company’s existing French shareholders: Ardian, Mérieux Equity Partners and Eximium. Nov Santé Actions Non Cotées, the fund launched at the initiative of the French Insurance Federation (FFA) and Caisse des Dépôts under their sustainable recovery investment program for France (“Assureurs – Caisse des Dépôts Relance Durable France”) and managed by Eurazeo, would also invest in Seqens. Bpifrance is currently exploring the possibility of co-investing with SK Capital.
The deal is expected to close by the end of 2021, subject to the fulfillment of the standard conditions precedent for this type of transaction. Through the sale of its Seqens stake, Eurazeo would make a 1.8x return on its initial investment, with potential earnouts that could result in a multiple of 2.0x, depending on the company’s future performance.
Since its acquisition in June 2016 and with the support and guidance of Eurazeo and its partners, Seqens has cemented its status as an integrated global player in pharmaceutical solutions and specialty ingredients, generating €1 billion in annual revenue, with 19 manufacturing sites, seven R&D centers, and nearly 3,000 employees on three continents. During this period, Seqens has also expanded its technological and industrial footprint, investing more than €400 million across all its manufacturing sites and completing three major acquisitions: PCAS in France, Finland and Canada; Chemoxy in the United Kingdom; and PCI Synthesis in the United States.
Marc Frappier, Member of Eurazeo Executive Board and Managing Partner, Mid-Large Buyout commented as follows:
“Over the last five years, Eurazeo has supported Seqens in its expansion efforts, helping the company become an integrated global player in pharmaceutical solutions. We are delighted with this partnership involving major French and foreign investors, which will allow Seqens to continue consolidating its position as a French and European champion with global ambitions. We are also very satisfied with the constructive dialogue and excellent cooperation we have enjoyed with Ardian, Mérieux Equity Partners and Eximium throughout this period.”
ilfried Piskula, Managing Director, Mid-Large Buyout, added:
“This partnership has taken shape thanks to the strategic repositioning accomplished in these last few years. We are proud to have helped the teams at Seqens deliver on a shared vision and successfully achieve significant transformation, in particular through key acquisitions, investments in R&D and innovative technologies, as well as operational improvements, which today allow Seqens to aim for global leadership in the coming years.”
ABOUT EURAZEO
Eurazeo is a leading global investment group, with a diversified portfolio of €25.6 billion in assets under management, including €17.8 billion from third parties, invested in 450 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, São Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
Eurazeo is listed on Euronext Paris.
ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA
EURAZEO CONTACT
Virginie Christnacht
HEAD OF COMMUNICATIONS vchristnacht@eurazeo.com
+33 (0)1 44 15 76 44
Pierre Bernardin
HEAD OF INVESTOR RELATIONS pbernardin@eurazeo.com
+33 (0)1 44 15 16 76
PRESS CONTACT
David Sturken
MAITLAND/AMO dsturken@maitland.co.uk
+44 (0)7990 595 913
