Andera Expansion, the Andera Partners team dedicated to small-mid cap, and the Franco-African Funds support the management of the Spengler Holtex Group in a majority LBO transaction
PARIS, APRIL 26, 2021 – Andera Partners, a leading player in the field of private equity – particularly in SMEs through its activity Andera Expansion – and AfricInvest, leader in Private Equity in Africa – whose Franco-African Funds allow French SMEs to expand in Africa – acquires the Spengler Holtex Group, a supplier of medical and surgical equipment.
Born from the merger of the companies Spengler (designer / manufacturer of medical diagnostic equipment) and Holtex (distributor of medical equipment) in 2019, Groupe Spengler Holtex (GSH) specializes in the design and distribution of medical products and equipment , with strong roots around the doctor’s office, both in France and abroad. The group, based in Aix-en-Provence, employs around 50 people.
Inventor of the blood pressure monitor in 1907, Spengler has been designing the diagnostic instruments of tomorrow for over 100 years. These combine design, comfort, precision and performance, to perfectly meet the daily practice of healthcare professionals and patient comfort.
Holtex designs surgical instruments, medical furniture and medical clothing. The brand is recognized for its products that are both effective and clever for taking care of caregivers.
The master-distributor activity is now carried out under the GSH brand with a wide range of products, bringing together own brands and the essential brands of medical equipment.
The export markets, which today represent 25% of turnover, are a key development channel for GSH. Its products enjoy a strong notoriety especially on the African continent which represents more than 2/3 of export sales.
Mayeul Caron, Partner of Andera Partners, declares: “The work carried out by the management team, led by Joël Malabat, over the past 3 years is remarkable. Today, the group has undeniable strengths to significantly accelerate its growth, particularly external growth: a portfolio of leading brands, an efficient logistics platform and very solid positions in France and abroad. "
Joël Malabat, CEO of the Spengler Holtex Group adds: “We are very happy to open the next development phase of the Spengler Holtex Group with Andera Partners and AfricInvest. The tandem seemed to us to be particularly relevant and credible in supporting our desire to consolidate our sector in France, in Europe and around the world ”.
• Andera Partners : Mayeul CARON, Pierre CAVALIER, Victor CABAUD
• AfricInvest Europe : Khaled BENJENNET, Stéphane COLIN
• Management : Joël MALABAT, Hervé DEMARS
o Financial due diligence: Eight Advisory (Fabien THIÉBLEMONT, François GALLIZIA)
o Evaluator curator: Exelmans (Richard DAHAN)
o Strategic Due Diligence: Alcimed (Angela PATRIZIO, Delphine BERTREM)
o Lawyers and legal, fiscal and social due diligence: Winston & Strawn (Nicola Di GIOVANNI, Sidney ROSENBERG, Julia BROCHET)
o Lawyers (Management): Degroux Brugère (Jean MELCION, Amélie DUCLOS, Frédéric HENNES)
• LFPI Management : Fabien BISMUTH, Cyrille GUYARD
• Argos Expansion : Louis GODRON, Pierre DUMAS
• Capital Export : Jean-Mathieu SAHY
• Tips :
o Financial advisor: Rothschild & Co (Elena COLUCCELLI, Anaïs PONS, Thomas GUERINEAU)
o Financial due diligence: EY (Emmanuel PICARD, Marion LASSUS-PIGAT)
o Lawyers: Lamartine Conseil (Maxime DEQUESNE, Samantha CHAVANE DE DALMASSY)
ABOUT ANDERA PARTNERS
Founded in 2001, Andera Partners (formerly Edmond de Rothschild Investment Partners) is a major player in unlisted investment in France and internationally. Its teams manage nearly € 2,5 billion in life sciences (Andera Life Sciences), development capital and transmission (Andera MidCap, Andera Expansion, Andera Croissance), sponsorless operations (Andera Acto) and of ecological transition (Andera Infra).
Andera Partners’ mission is to engage with companies and their managers to support them on the path to strong and sustainable growth. The quality of performance offered to our investors is based on a strong partnership between the entrepreneurs of our investments and our teams, based on shared values. Performance through collective commitment, the Power of And, represents the DNA of Andera Partners.
Based in Paris, Andera Partners is 100% owned by its teams of 75 people, including 50 investment professionals. It is organized in partnership and managed by a college of 10 partners. Responsible and committed, the management company regularly sets up associative partnerships and takes concrete action in the fight against global warming. Andera Partners has been labeled Carbon Neutral since 2018.
ABOUT AFRICINVEST AND THE FRANCO-AFRICAN FUND
Founded in 1994 in Tunisia, the AfricInvest Group is a leader in Private Equity in Africa. With c. 1,7 billion euros in assets under management, AfricInvest has to date made more than 170 investments in nearly 30 countries in Africa – and in France – and relies on a team of 90 employees of 19 different nationalities operating from its 10 offices (Abidjan, Algiers, Casablanca, Lagos, Cairo, Nairobi, Paris, Saint Louis, Tunis and Washington).
Launched in January 2017, the Franco-African Funds are managed by the dedicated Paris-based team of AfricInvest Europe, the French subsidiary of the AfricInvest Group approved by the AMF. They are intended to invest tickets between € 3 million and € 6 million in French SMEs with a development project in Africa, existing or to be developed, whose target turnover is between € 20 million and 300 million. €.
The Franco-African Funds allow French SMEs to expand rapidly on the African continent, with the support of the entire AfricInvest network. They are sponsored by Bpifrance and bring together a tour de table made up of French public institutions and large private groups, institutional investors and French and African family offices.
• Nicolas DELSERT – Andera Partners – email@example.com – +33 1 85 73 52 88
• Ann WYMAN – AfricInvest – firstname.lastname@example.org – +33 1 73 04 34 40
• Marie-Charlotte POTET – Bien Commun Advisory – email@example.com – +33 6 47 97 39 46