Astorg Partners
 
INVESTMENTS
 
Laboratoire Pasteur-Cerba
Laboratoire Pasteur-Cerba
  • Investment date : July 2006
  • Transaction size (Enterprise Value) : 100-300€m
  • Industry : Healthcare
  • Activity : Specialized laboratory analysis
  • Previous Majority Shareholder : LBO Fund
  • Status : In portfolio
  • Fund : Astorg III
Astorg Partners had been a shareholder via the Astorg II fund since December 2002, and reinvested in the company when it was taken over by IK Partners in July 2006, thus showing our trust in the talent of the management and in the competitive edge of the company.
Laboratoire Cerba in short
Created in 1967 based on an original concept for subcontracting the specialized analyzes from routine laboratories or hospital laboratories, the Pasteur Cerba Laboratory merged in January 1999 with the Institut Pasteur’s center of specialized medical biology in Paris to become the first European laboratory in specialized biology.

The Pasteur Cerba laboratory is commited to meet the highest quality standards required by all healthcare professionals, and enable them to keep improving patient care.
Its diversified activity covers most medical specialties. It is organized in three complementary departments specialized in biology, genetics and anatomo-cytopathology. In 2007, Laboratoire Pasteur Cerba took over BARC N.V in Belgium, thus becoming the European leader for subcontracting biological tests and clinical trials.
The Laboratoire Cerba opportunity as seen by Astorg Partners
• Market leader protected by high entry barriers, which reduces the pressure on margins.

• Organic growth potential supported by demographic, technological factors (molecular biology) and a favorable competitive environment conducive to a growing market share.

• Strong potential for external growth, in a very fragmented market.

• Potential to increase value multiples with the acquisition of strong European positions.
Laboratoire Cerba
« When we became partners in 2002, in agreeing to share the control of a laboratory, Astorg took a non dogmatic approach with a proactive vision of our industry future and expressed a great trust in the management team.
Thereafter, Astorg remained available and involved when necessary. We appreciated most their transparent communication and their great loyalty to the management during critical phases of the investment, such as the exit. »
Catherine Courboillet, Chairwoman of the Executive Board of Laboratoire Pasteur Cerba
Your Astorg contacts for Laboratoire Cerba
Thierry Timsitttimsit@astorg-partners.com
More information on Laboratoire Pasteur-Cerba
http://www.pasteur-cerba.com/
Astorg Partners     68 rue du Faubourg Saint Honoré 75008 PARIS     Tel: +33 (1) 53 05 40 50     Fax: +33 (1) 53 05 40 57     Mail: info@astorg-partners.com
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