Mérieux Equity Partners, a management company created by Mérieux Développement,announces the first closing of its third generation fund, Mérieux Participations 3, focusing on growth capital within the healthcare and nutrition sectors.
Dedicated to partnering with fast-growing companies in the health and nutrition sectors, Mérieux Participations 3 was launched in July 2018 with a fundraising goal of more than 300 million euros. Only two months after the commercial authorization by the French Market Authorities (AMF), a first closing has been completed with an initial amount of 200 million euros (or 235 million USD). In addition to the Mérieux family holding, this 3rd generation fund is backed by renown investors, such as the Dassault Holding (GIMD), Crédit Agricole Centre-Est, Crédit Agricole Assurances and Compagnie Financière La Luxembourgeoise, representing more than 60% of the commitments to-date.
Mérieux Participations 3 will focus on growth equity investments, in support of small- to mid-cap companies operating within the healthcare and nutrition sectors and located in Western Europe or North America. With a typical ticket size ranging from 20 to 40 million euros per company, this new fund will operate MBO / LBO transactions as well as traditional growth equity deals, targeting fast growing companies with a clear potential to become market leaders at a global level.
Mérieux Equity Partners has already completed its first majority investment into STIplastics Healthcaring. The investment will allow this fast-growing company, located near Grenoble (France) and specialized in the development and manufacturing of plastic solutions for laboratories within the pharmacy and nutrition sectors, to strengthen its industrial platform and broaden its product offering over the coming years.
Through Mérieux Participations 3, Mérieux Equity Partners also intends to broaden its scope of activity into the nutrition sector. The firm recently took a minority equity position in Biobest, a Belgian company commercializing a range of integrated biological control solutions for the pollination and natural crop protection market. Mérieux Equity Partners will help Biobest become the global leader in this rapidly growing market segment.
"We are confident about the success of our investment platform, in response of the growing demand from entrepreneurs for strongerand more specialized investors, offeringtailor-made financing solutions." said François Valencony, CEO of Mérieux Equity Partners. "The commitment of prestigious investors to Mérieux Participations 3,alongside the Mérieux family, reflects the growing interest in our value proposition, both entrepreneurial and sector-specific, supported by a unique team."
"Investing in tomorrow's medicine and supporting emerging market leaders internationally, are prioritiesfor Institut Mérieux and a genuine component of the entrepreneurial approach of our family". said Alexandre Mérieux, President of Mérieux Développement. Alongside the creation of Mérieux Equity Partners and with the support of family holdings that share our long-term vision, we intend to strengthen our action in areas with major public health challenges."