IMAP is pleased to announce that BIOGROUP closed a new €275 million non-fungible Term Loan B add-on at E+425, with a 0% floor priced at 97.
BIOGROUP is the French leader of routine medical diagnostics with 2019 pro forma run-rate sales of c.€850 million. The Term Loan B add-on was raised to finance the acquisition of French routine laboratory competitor Laborizon, with its 105 diagnostic centers in key strategic regions (notably in western France) and 2019 pro forma run-rate sales of c.€162m. BIOGROUP will now have 663 laboratories throughout a large and dense network in France, reinforcing its strong position as the national leader.
This deal was among the first to be placed just after the European leveraged loan market reopened and has been oversubscribed 3x (more than €830 million in commitments). The add-on was syndicated to 54 lenders with 9 new participants. The transaction was first launched in March but was postponed until now due to the adverse market conditions caused by the COVID-19 pandemic.
The IMAP France team, led by Cyril Kammoun, acted as exclusive financial advisor and rating advisor to BIOGROUP.
Mota-Engil sold 50% of HL -Sociedade Gestora do Edifício and 40% of HAÇOR – Concessionária do Edifício do Hospital da Ilha Terceira
Founded in 1962 and based in Villa Rica, Georgia, Rogers is a leading national provider of mechanical, HVAC and plumbing contracting services
This annual IMAP publication showcases IMAP's collective transaction track record across a breadth of sectors and geographies. This year's Dealbook includes deals from July 2019 to July 2020.
