Date: 2012-03-21
Type of information: Private placement
Company: Novasep (France)
Investors: FSI (France) - Azulis (France)
Amount: € 33 million
Funding type: private placement
Planned used: recapitalization
Others: Novasep, a leading provider of purification-based manufacturing solutions for lifescience molecules, has completed its previously-announced process to strengthen its balance sheet and increase its funds available for investment in customer-focused growth initiatives. Novasep’s approximately 310 million euro recapitalization includes €30 million of new capital invested by the Fonds Stratégique d\'Investissement (FSI), France’s strategic investment fund, which has become a shareholder in Novasep. Azulis, a French investment fund and historical investor of Novasep, also invested €3 million in equity. As a result, Novasep currently has more than €40 million in cash available for financing growth projects. Moreover, the recapitalization significantly reduces Novasep’s annual interest expense, enabling it to further grow its cash available for investment going forward.
In addition to Roger-Marc Nicoud, founder and CEO of Novasep, Novasep’s board also includes Bernard Dubois, former head of Sanofi Aventis’ global industrial operations, Hugues Lecat, CEO and Chairman of the Management Board of the pharmaceutical company Ethypharm, Thomas Devedjan, Member of the FSI Executive Committee; and representatives of the company’s international institutional shareholders.
As expected, in addition to the FSI, Novasep shares are now held by a group of international institutional shareholders who have been long-term supporters of the company and holders of company’s securities. The management team has partnered with the new owner group and has received a significant financial stake in the company.
Therapeutic area: Technology - Services
