UK-based IK Investment Partners has entered exclusive negotiations with Ardian to acquire a majority stake in Kersia, a biosecurity and food safety company the French private equity firm acquired in 2016.
Financial details were not disclosed, as the transaction remains subject to the approval of antitrust authorities.
If concluded, the deal will be the first made through IK’s ninth fund, closed at €2.85bn in May this year. The vehicle typically deploys between €50m and €200m per investment in European companies with enterprise values of between €100m and €500m.
Kersia’s businesses include biosecurity in farming and food processing as well as water purification. In the four years of Ardian’s investment, France-headquartered Kersia has tripled in size, operating in more than 120 countries, 1,500 employees and €300m in revenues, the firms said in a joint statement.
“Kersia has built robust market positions globally, while keeping its customers at the centre of its strategy. We are delighted to have the opportunity to support Kersia and its management team in their growth strategy and consolidation of the biosecurity market,” Dan Soudry, managing partner at IK, added.
Since its inception in 1989, IK has raised more than €13bn of capital and invested in over 135 European companies. Its private equity investments are focused on the Benelux and DACH regions, France, the Nordics and the UK.
Source: Private Equity News
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