The EQT VIII fund (“EQT” or “EQT VIII”) has entered into an agreement to acquire Igenomix (“the Company”) from Charme Capital, management and other minority owners. Charme Capital and management will re-invest significantly into the Company while EQT VIII will have majority ownership. Igenomix’s management team, including CEO David Jiménez, will continue to lead the Company, building on its strong track record of growth and innovation.
Founded in 2011 and headquartered in Valencia, Spain, Igenomix supports approximately 90,000 couples per year in their reproductive journey through a diversified portfolio of IVF (In Vitro Fertilization) services covering every phase of a fertility treatment. Under the leadership of CEO David Jiménez and his management team, the Company has achieved substantial International expansion over the last decade and today is an innovation leader in its field with a global network of 15 laboratories across 13 countries. Igenomix’s two main hub labs are located in Spain (Valencia) and US (Miami), the two biggest markets for the Company. Igenomix’s world-class R&D function has been a growth driver and the Company has successfully developed partnerships with leading universities, including Stanford, Harvard and Baylor.
Vesa Koskinen, Partner at EQT Partners, Investment Advisor to EQT VIII, said: “We are truly impressed by the high quality of Igenomix and the results that the management team has achieved. Igenomix is a global leader in fast-growing IVF genetic services, with particular focus on quality, innovation leadership and customer service - characteristics which make the Company a strong fit with EQT’s investment criteria. EQT looks forward to supporting Igenomix and the strong management team as it continues to invest in R&D and innovation to further accelerate the Company’s growth.”
David Jimenez, CEO at Igenomix, said: “We are very excited to partner with EQT and look forward to working together. EQT’s healthcare sector expertise, global platform, local presence in Spain and the US and extensive network of Industrial Advisors will be of great value for us and key to our future success.”
Carlos Santana, Managing Director at EQT Partners and Head of EQT Private Equity in Spain, concluded: “EQT believes that Igenomix has the potential to continue to grow at an accelerated pace with a clear focus on customers and patients in their reproductive journey. EQT looks forward to partnering with David and the management team to further accelerate the Company’s international expansion and consolidate its global leadership. The acquisition of Igenomix further strengthens EQT’s ‘local-with-locals’ presence in Spain and demonstrates the firm’s commitment to pursuing future investment opportunities in the region.”
The transaction is expected to close subject to customary approvals in May 2019. The parties have agreed not to disclose the transaction value.
PwC and Allen & Overy served as advisors to EQT VIII. Arcano and Araoz & Rueda served as advisors to Charme Capital.
Vesa Koskinen, Partner at EQT Partners, Investment Advisor to EQT VIII, +358 503 866 344
Carlos Santana, Managing Director at EQT Partners, Investment Advisor to EQT VIII, +34 91 08 30 559
EQT Press office, firstname.lastname@example.org, +46 8 506 55 334
EQT is a leading investment firm with approximately EUR 61 billion in raised capital across 29 funds around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com
Igenomix supports approximately 90,000 couples per year in their reproductive journey through a diversified portfolio of IVF (In Vitro Fertilization) services covering all the phases of a fertility treatment. Igenomix is an innovation leader in its field and operates through a global network of 15 laboratories across 13 countries with the two main hub labs in Spain (Valencia) and US (Miami).
More info: www.igenomix.com