LYON, France and LUXEMBOURG, November 4, 2014 /PRNewswire/ —
Merieux Developpement, the private equity investment vehicle of Institut Merieux, was first established in late 2009 to support entrepreneurs and companies within the healthcare sector. The company, chaired by Alexandre Merieux, just announced that it is expanding its activities by creating a second evergreen vehicle, with a total commitment of EUR150 million sponsored by Institut Merieux.
As part of a long-term partnership agreement, Sienna Capital, a company controlled by Groupe Bruxelles Lambert ("GBL" – ISIN Code BE0003797140), commits an initial amount of EUR 75 million, mostly dedicated to the newly investment vehicle established by Merieux Developpement.
Merieux Developpement will thereby deploy substantial new capital within the healthcare and nutrition sectors in growth capital as well as venture capital. To support this expansion, Merieux Developpement recently opened permanent offices in the United States and appointed Mrs. Christine Demode as Chief Financial Officer.
"We are very honored to partner with the alternative investment holding of GBL, anchored by the Canadian Desmarais and Belgian Frère families who are highly reputable and long term investors in the industrial sector. The renewed commitment of Institut Merieux and the support of GBL underline the quality of the performance achieved by the team since 2010 and the pertinence of our investment approach," explains Alexandre Merieux, President of Merieux Developpement.
"We have financed 12 companies and committed EUR 70 million from 2010 to 2014. This additional financing allows us to ramp-up our operational capabilities in the short term but also represents a very solid basis for our future financial expansion," adds Francois Valencony, General Manager of Merieux Developpement.
Ian Gallienne, Chairman of Sienna Capital, said: "Sienna Capital is pleased to partner with the Merieux family, which has more than a century of recognized expertise and global leadership in healthcare. This commitment is consistent with GBL’s strategy to reinforce the diversification of its portfolio and achieve its value-creation objectives including through developing its alternative investments within Sienna Capital."
Colin Hall, CEO of Sienna Capital, stated: "I am impressed by the team at Merieux Developpement and the portfolio they have constructed. We are glad to be their partner as they continue building a best-in-class healthcare investment firm."
About MERIEUX DEVELOPPEMENT
Merieux Developpement is an evergreen fund specialized in the healthcare sector, conducting growth and venture capital investments on an international basis. Merieux Developpement works alongside entrepreneurs whose products and services can bring genuine advances to the health of patients and consumers, offering them access to its industry expertise and global network. Merieux Developpement is an affiliate of Institut Merieux, which employs around 13,000 employees worldwide with consolidated revenues exceeding EUR 2.0 billion in 2013. Other companies owned by Institut Merieux include bioMerieux (in vitro diagnostics), Merieux NutriSciences (food safety, nutrition-related CRO services), Transgene (immunotherapy).
About SIENNA CAPITAL
Sienna Capital, also known as the Financial Pillar of GBL, is the alternative investments platform of the publicly traded investment holding company Groupe Bruxelles Lambert (GBL – ISIN Code: BE0003797140). Sienna Capital’s current portfolio includes investments in the private equity funds Ergon and Sagard and the credit fund Kartesia.