Astorg and Montagu in exclusive talks to sell Sebia stake

Sebia

Montagu Private Equity and Astorg Partners are in exclusive talks to sell their remaining majority stake in Sebia to CVC Capital Partners Strategic Opportunities and Téthys Invest.

The terms of the transaction were not disclosed, but the FT reports that the deal will value the business at around €2bn.

The talks come after the two firms sold a partial stake in Sebia to Caisse de Dépôt et Placement du Québec (CDPQ), the Canadian institutional asset manager, in August. This transaction will provide a complete exit from the business.

Montagu and Astorg teamed up to acquire Sebia in 2014 from Cinven.

Founded in 1967, Sebia provides clinical protein electrophoresis equipment and reagents, a technology used for in-vitro diagnostic testing. Its systems analyse proteins in order to screen and monitor various diseases and conditions. The company is headquartered in Lisses, France, and operates across more than 120 countries.

During Montagu and Astorg’s hold the company has grown in the myeloma diagnosis space and entered the diabetes market. The business also acquired Italian group Interlab. The group is chaired by Benoît Adelus.

The deal is subject to workers’ council information and consultation and regulatory clearance.