UK private equity house 3i has invested €65m in French private clinical laboratories network Labco as part of a €140m funding package.
The money will be used to grow the company in Europe, particularly Germany. The deal gives 3i a 20% stake, with Labco’s managers holding a 59% share.
Denis Ribon, a partner in 3i Growth Capital France and head of European healthcare, said: “With this investment, and in the current climate where capital markets are often constrained, 3i has found many investment opportunities in leading SMEs. In fact, we believe that Labco will build on 3i France’s successful track record of minority investing, including Transport Alloin, Senoble and Defimode in the last year alone.”
Labco also recently completed the syndication of €300m of senior debt raised from Crédit Mutuel – CIC and Natixis in July last year.