3i sells Havea Group to BC Partners

BC Partners led an investor group with PSP Investments and National Pensions Services Investment Management.

  • Cathay Capital was a co-investor with 3i in 2017
  • The sale values the company at 50 percent higher than its 31 March valuation
  • Havea has made five acquisitions in five years

3i and co-investor Cathay Capital has sold its stake in French natural healthcare group, Havea, to an investment group fronted by BC Partners. The pricetag was between $1.05 billion and $1.16 billion, according to Reuters. The investment group led by BC Partners includes PSP Investments and National Pensions Services Investment Management. The group intend to accelerate Havea’s pace of M&A and continue investing in digitalisation.

3i and co-investor Cathay Capital has been invested in Havea since 2017, doubling its size with sales reaching $223 million in 2021. Havea delivered double-digit organic growth and completed 5 acquisitions in these 5 years, significantly reinforcing its presence in Italy, (the largest European food supplements market) and Belgium.

BC Partners was founded in 1986 and has been a private equity investor for over 30 years. It has raised 11 successive funds representing over $30 billion of committed capital.

“Havea has made five key strategic acquisitions since 2017, and we look forward to working with the team to drive its continued international expansion,” said Fouad Jaïdi, Managing Director at BC Partners “We will use our expertise to support the company’s continued focus on meeting customer needs via increased investment in digitalisation.

Havea Group, headquartered in Boufféré, France, helps consumers prevent and treat common health issues with natural healthcare products. It does this via its 5 brands, Aragan, Biolane, Densmore, Dermovitamina, and Vitavea.

“Our partnership with 3i has been very successful. With their active support, Havea has grown substantially and established its leadership position in natural healthcare,” said Nicolas Brodetsky CEO of Havea. “Partnering with BC Partners, which has extensive experience in fostering portfolio companies’ potential, is a great opportunity. We share a common vision of the winning strategy to accelerate our development on a larger scale and become the undisputed European leader.”