Crédit Mutuel Equity has sold Technoflex to Adagia Partners

Technoflex

Technoflex is a pioneer and global market reference in the field of IV drug delivery solutions, offering innovative products and services that meet the highest standards of safety and reliability. The company’s devices include a wide range of flexible bags and connectors that are critical for the safe storage and administration of injectable drugs. Positioned in the premium segment of the market, Technoflex generates more than 50% of its sales in the U.S., reflecting its strong global presence and reputation, and has been a trusted partner for blue-chip pharmaceutical companies, biotech firms and contract development and manufacturing organizations, building long-term relationships by providing tailor-made solutions. In recent years, Technoflex has focused on developing innovative drug delivery systems that facilitate handling by caregivers and reduce errors during the administration of injectable drugs.

The Deal

Under the majority ownership of Crédit Mutuel Equity and the leadership of its Chief Executive Officer Olivier Chesnoy, Technoflex has successfully focused on high technicity and high value-added drug delivery systems, resulting in strong sales dynamics and an established position of global standard for the design and quality of its products. With this strong trajectory and solid visibility, the shareholders decided to appoint Lincoln International to find a new partner for Technoflex to take it to a new stage of development. After a highly competitive process involving strategic and financial acquirers on a global scale, Adagia Partners emerged as the most suited to further solidify Technoflex’s position as a leading provider of high-value, customized drug delivery solutions. With its new shareholder’s support, the company aims to expand its global presence and enhance its product portfolio for complex and sensitive pharmaceuticals.

Our Perspective

François Rispoli, Lincoln International Managing Director who led the transaction, commented, “We are very proud to have advised Crédit Mutuel Equity and Technoflex top management on a transaction that fully captures the incredible achievements of the recent years, while broadening the company’s shareholding base and increasing its resources for the next phase of growth. This highly successful process is a tribute to Lincoln’s expertise in medical technology and to the benefit for our clients of combining global reach and local presence, enabling us to offer a broad array of options and superior outcomes.”

Crédit Mutuel Equity

Crédit Mutuel Equity is the private equity (PE) subsidiary of Crédit Mutuel Alliance Fédérale and carries out venture capital, growth capital and buyout activities. Crédit Mutuel Equity supports business leaders at all stages of their companies’ development, from seed phase to buyout, by providing them with the means and the time required to implement their transformation projects. Crédit Mutuel Equity brings together a network of more than 350 business leaders and entrepreneurs who share similar convictions and can benefit from one another’s experience, no matter the nature of their projects. Using €4 billion of its own funds, Crédit Mutuel Equity finances investments tailored to the time horizons and growth strategies of each company, whether in France, Germany, Switzerland, Belgium or Canada.

Adagia Partners

Adagia is a leading European mid-market PE firm with offices in Paris and Frankfurt. The firm invests in midcap companies focusing on France, DACH and Benelux. The team is composed of professionals with a mix of investing and operational background. Adagia has an industry specialist approach and focuses on three core investment sectors – healthcare, business services and technology. The partners of Adagia have a long track record of backing entrepreneurs in the implementation of their growth strategies, build-up, international expansion and technology-digital transformation.

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