European private equity firm Cinven today announces that it has reached agreement to acquire Sebia SA ("Sebia"), a leading oncology focused diagnostic company with a strong electrophoresis technology platform from Montagu Private Equity. Cinven will be backing the strategy of the current management led by Benoît Adelus. Closing of the transaction is subject to customary regulatory clearances.
Sebia has performed strongly in its core business while investing in its pipeline of future diagnostic tests in high growth areas. The Company has been able to both increase market share in existing markets and also significantly expand its global footprint to the extent that the Group now sells equipment and associated consumables in more than 110 countries.
Benoît Adelus, CEO of Sebia, said:
"I am proud of the progress the Company has made over the last four years to strengthen its leadership position over that period. I believe we have the right management, employees and expertise to drive the expansion of the company into new geographies and product lines with the support of a quality shareholder like Cinven."
Nicolas Paulmier, a Partner of Cinven, added:
"We were deeply impressed by the robust organization and platform that Sebia represents. We see a clear pathway under the leadership of Mr. Adelus for the Company to continue its rapid growth for many years to come. Sebia also fits with our strategy of investing into high value diagnostic categories, including our 2006 acquisition of Phadia, the market leader in allergy testing."