Ardian has arranged a unitranche facility with the participation of a wholly-owned subsidiary division of Caisse de dépôt et placement du Québec (CDPQ), to support the investment of Naxicap Partners in Lagarrigue, a global specialist in large scale external orthopaedic devices for the treatment of disabilities, alongside the Company’s management.
Headquartered in Toulouse and founded in 1976, the French-based Group has extended its presence since 2016 into neighbouring countries, such as Belgium, Switzerland and Spain. This development was enabled by an active acquisition strategy, which now results in over 30 per cent of its sales being achieved internationally.
Together with Naxicap, the Group has built an ambitious roadmap projected to expand its network of agencies and strengthen its strategy of vertical integration into the production of components and the development of digital technologies dedicated to ortho-prosthetists. Social and Environmental Responsibility is at the heart of Lagarrigue’s business model which focuses on the well-being and care of all patients, inclusive of all ability, age or level of independence.
Jean-Pierre Mahé and Alain Montean, respectively Chairman and CEO of the Lagarrigue Group, says: “The last five years have enabled us to accelerate the transformation of our company. In partnership with Naxicap, whom we thank for their trust, we will keep capitalising on the Group’s values and the fundamentals of our model in order to consolidate our market and enter new geographies. We are glad to carry on our adventure with Ardian, on the financing side this time, and CDPQ around the table, and we know they will continue to be trusted partners for the Group.”
“We are thrilled to announce the acquisition of a majority stake in Lagarrigue alongside Jean-Pierre Mahé, Alain Montean, Nathalie Baracetti and their teams. The Group’s expertise, its global positioning and the values of its management team make it a rare investment opportunity and a highly motivating challenge,” says Luc Bertholat, Member of the Board of Naxicap Partners, and his team.
Grégory Pernot, Managing Director in the Private Debt team at Ardian, says: “We are very pleased to be involved in this new chapter of Lagarrigue’s development, which has showcased an impressive historical growth both organically and via acquisitions, thanks to the excellent quality of its management team. We thank Naxicap and Lagarrigue for their trust and are eager to prove once more that Ardian is a valuable long-term partner.”
