Labco, the Parisian medical diagnostics business that counts London-listed private equity firm 3i among its investors, is reported to be looking for potential suitors after buyout firms including Blackstone approached the company.
3i decided to organise a formal sale process for Labco starting in September following an approach from a potential buyer a few weeks ago, Bloomberg reported on Monday.
Buyout firms including EQT, Bain Capital and TowerBrook Capital Partners could also be interested in the business, the report added.
A sale could potentially yield around €1bn based on EBITDA of around €130m.
3i has invested €130m in Labco in several tranches since July 2008 and syndicated €15m.
Financial investors including 3i owned 42 per cent of the company at the end of March, while laboratory doctors held 20 per cent.
Other shareholders such as management held 19 per cent, while the company’s founders held 18 per cent.
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