AXA Private Equity is providing EUR100m of additional financing to support the development of Ceva.
The deal follows AXA Private Equity’s first investment of EUR30m in 2007.
Ceva is an animal health company, which since becoming independent in 1999, has grown by more than 10 per cent per year, well above the industry average, thanks to an internal growth strategy focused on developing innovative products combined with external growth achieved through build-ups.
The management of Ceva became the majority shareholders in the group in 2007, following the third in a series of LBO’s supported by NiXEN, Euromezzanine and, in 2010, Sagard.
AXA Private Equity’s EUR100m bond financing line reinforces its support to Ceva and will complement the company’s existing bank financing.
Marc Prikazsky, chairman and chief executive of Ceva, says: “Our ability to successfully incorporate new companies and products into a wider strategic vision has been a key element for the growth of Ceva. Our results-based culture has allowed numerous entrepreneurs to join us and retain their own management styles while pursuing the same global vision as the group.”
Cécile Mayer-Levi, co-head of AXA Private Equity private debt, says: “We are delighted to have provided this innovative form of financing as it is ideally suited to Ceva’s existing capital structure and gives it the opportunity to further its development internationally.”
