The joint owners of Switzerland-based Unilabs, private equity funds Apax Europe VI, Nordic Capital Fund VI ("Nordic Capital") and Apax France VII have accepted an offer from Apax IX, advised by Apax Partners LLP, for the acquisition of their respective stakes in Unilabs.
The transaction marks the successful completion of the joint ownership between funds advised by Apax Partners LLP, Nordic Capital and Apax Partners France (jointly with Altamir), which saw Unilabs taken private from the SIX Swiss Exchange in November 2007 and merged with the diagnostic division of pan-European healthcare provider Capio in 2008.
With over 112 laboratories and 43 imaging units and a broad catalogue of more than 2,500 diagnostic tests, Unilabs (headquartered in Geneva) is one of Europe’s leading providers of clinical laboratory testing and medical diagnostic imaging services. The Unilabs Group employs more than 5,300 people worldwide, successfully operating laboratory and medical diagnostic imaging facilities in 12 countries, and generating annual revenues of EUR 673m in 2015. Its network of facilities provides its customers with one of the broadest geographic footprints of any clinical laboratory and medical diagnostic services provider in Europe.
Walder Wyss acts as legal counsel to Apax as seller in this transaction. The Walder Wyss team is being led by Alex Nikitine (Partner, M&A, Capital Markets) and further includes Anna Baldenbach von Bröchen (Associate, Corporate/M&A), Michael Isler (Managing Associate, IP/IT), Alexandre Both (Managing Associate, Corporate/M&A), Janine Corti (Associate, Tax), Fabienne Anner (Associate, Corporate/M&A), David M. Hill (Associate, Labor law) and Valentin Wiesner (Trainee, Banking & Finance).