Agreement to acquire significant minority stake in Synlab

Novo – Synlab
Feb 2016
Deal Value:
Not disclosed
Exclusive process
Life Sciences

FIH Partners advised Novo A/S, the holding company for the Novo Group, in the agreement with Cinven and Ontario Teachers’ Pension Plan to acquire a substantial minority equity stake in Synlab.Synlab is the European market leader in clinical laboratory services. A full range of medical diagnostics is offered for patients, practising doctors, clinics and the pharmaceutical industry. Synlab has 13,000 employees and operates in 35 countries across four continents. Synlab has total sales of EUR ~1.5 billion.
The majority owner of Synlab is the European private equity firm Cinven. Cinven acquired Synlab in June 2015, following its acquisition of Labco S.A. in May 2015 and merged the two companies. Ontario Teachers’ Pension Plan acquired a minority stake in the combined Group in October 2015.
To Novo, the investment marks an expansion of the industries in which the Group now invests, which now also includes interests in full-service companies within life science.
FIH Partners acted as exclusive financial advisor to Novo in the transaction with Cinven, Ontario Teachers’ Pension Plan and Synlab.