Sub-investment grade corporate credit specialist Alcentra, part of BNY Mellon, has invested in Menix Groupe, the holding company for healthcare firms Serf, Dedienne Santé and Global D and a manufacturer of orthopaedic and dental implants in France.
The funding takes the form of a unitranche investment provided by funds managed by Alcentra and will support the buyout by funds advised by LBO Partners in association with Turenne Investissement and Keensight Capital.
The unitranche investment will provide capital for the growth strategy of Menix.
Frédéric Méreau, executive director, European direct lending and mezzanine investments will represent Alcentra on the company’s board of directors as an observer.
Headquartered in Décines, France, Menix focuses on the design, manufacturing and distribution of orthopaedic and dental implants. In 1970 Menix was the first company to design and manufacture total hip replacement prostheses.
The deal follows recent investments in Chesapeake Specialty Chemicals Packaging, Caffè Nero, Impetus Waste Management and Cambridge Education. This transaction represents the third French unitranche financing arranged by funds managed by Alcentra since the start of 2014.
