What we did

Capitalmind Investec advised Sofiprotéol in its participation to the reshaping of Ceva Santé Animale capital structure through a new round of financing (the group’s 4th LBO).

We actively supported Sofiprotéol alongside all the acquisition process: negotiating with Ceva Santé Animale, providing valuation guidance, execution support, mapping out negotiation arguments and negotiating legal documentation.

We played a key role in explaining and negotiating the deal structure and related shareholders’ agreement of this fairly complex LBO.

About the deal

Through this LBO, the management retains the position of majority shareholders and has selected long term financial partners (Temasek, CDH Investments, Euromezzanine, Sagard and Sofiprotéol) eager to support the group’s future growth.

Sofiproteol was formed in 1983 at the initiative of the French federation of oilseed and protein crop producers. Originally a financial establishment for the French vegetable oil and protein industry, Proléa, Sofiprotéol’s investments and acquisitions have made it a major agri-food group in France today (€7.2bn of sales and over 8.000 employees).

Ceva Santé Animale was founded in 1999 and is the world’s 8th-largest veterinary health company, focused on research, development, production and marketing of pharmaceutical products and vaccines for companion animals, livestock, swine and poultry. The group has posted for almost 15 years annual sales growth of more than 12%, reaching c.€700 million in 2013, while continuously improving its profitability.

Through this operation, Ceva enters into a new phase of its development, based on the strengthening of its leading positions and the acceleration of its international expansion, which will position Ceva within the top 5 of the global animal health companies in 2020.

Target Headquarter
June 2014