Cinven is reviewing strategic options for laboratory-services company Synlab International GmbH including a potential sale, people with knowledge of the matter said.
The private equity firm has been speaking with potential advisers and could start a sale process early next year, the people said, asking not to be identified because the information is private. Cinven plans to seek a valuation of about 5.5 billion euros ($6 billion) including debt for Augsburg, Germany-based Synlab, one of the people said.
A sale of Synlab would likely attract other private equity firms, the people said. No final decision has been made, and Cinven could elect to keep the business, the people said. A spokeswoman for Cinven declined to comment, while Synlab didn’t answer phone calls seeking comment.
Cinven first invested in Synlab in June 2015, buying a majority stake from fellow private equity firm BC Partners for about 1.7 billion euros, Bloomberg News reported at the time. It combined the business with Labco SA, which it agreed to buy earlier that year for 1.2 billion euros.
Synlab, led by Chief Executive Officer Mathieu Floreani, also counts Novo A/S and Ontario Teachers’ Pension Plan as minority investors, according to its website. It operates across more than 40 countries, handling more than 500 million clinical tests annually, according to Synlab’s website.
Cinven also owns stakes in retailer Kurt Geiger and German drugmaker Stada Arzneimittel AG, according to its website.
The sale plan comes at a time when Cinven’s rival Apax Partners is also weighing a sale of diagnostic services business Unilabs. The buyout firm is working with advisers at Rothschild & Co. to look at options for the business, people familiar with the matter said last week.
Source: Bloomberg
Can’t stop reading? Read more
Monarch Collective eyes £55m stake in West Ham Women amid WSL investment surge
Monarch Collective eyes £55m stake in West Ham Women amid WSL investment surge West Ham United are in advanced discussions to sell up to 49% of their women’s team to Monarch Collective, the U.S. private equity fund specialising in women’s sports, in a deal that would...
Mutares offloads Buderus Edelstahl units to GMH Gruppe in €360m carve-out
Mutares offloads Buderus Edelstahl units to GMH Gruppe in €360m carve-out Mutares has signed an agreement to sell two business units of its portfolio company Buderus Edelstahl to GMH Gruppe, with completion expected in the fourth quarter of 2025. The deal covers the...
Abu Dhabi’s Adia backs Singapore’s GLP with $1.5bn investment push
Abu Dhabi’s Adia backs Singapore’s GLP with $1.5bn investment push The Abu Dhabi Investment Authority (Adia) is investing up to $1.5bn in Singapore-based GLP, strengthening the logistics investment group’s position across its global platforms, according to a report by...