Clearwater has advised Quilvest and Crédit Mutuel Equity on the acquisition of a minority stake in Minafin group, a leading fine chemical developer and manufacturer.
Crédit Mutuel Equity, which has been a shareholder since 2005, and Quilvest Capital Partners are concluding a new financing round of the Minafin group, which marks the exit of Andera Partners and Siparex ETI. The management team will reinvest in this new operation alongside the founder, who will consolidate his majority position.
Founded in 2004, Minafin, is a leading European fine chemicals company, specialising in intermediates and active pharmaceutical ingredients manufacturing, as well as green chemistry. The group has six industrial sites in France, Belgium, Germany, and the United States, allowing it to meet the needs of its international customers in the life sciences and high-tech industries.
The active pharmaceutical ingredients manufacturing market is driven by the growing outsourcing trend of laboratories and the development of innovative medicines. The relocation movement in Europe is evolving due to supply tensions encountered with some generic drugs, but also due to the strong commitment of European governments to retain their sovereignty over the management of their health policies.
Thanks to its recognised know-how, the quality of its industrial resources and its ability to develop and industrialise innovative processes, the Minafin group has experienced remarkable organic growth. Supported since 2017 by its minority pool of financial investors formed by Andera Midcap, Siparex ETI, Crédit Mutuel Equity and FCPI IRD Entrepreneurs, the group has increased its turnover from €162m in 2016 to €243m in 2020, with double-digit annual organic growth.
In order to support this growth, the group has relied, since 2007, on the pioneering development of green chemistry with molecules from biomass, which contribute to the social challenges of sustainability and environmental preservation.
Quilvest Capital Partners and Crédit Mutuel Equity will contribute to accelerating Minafin's development, both through organic growth and external growth, by capitalising on their European and American networks. They will be joined by Siparex ETI and FCPI IRD Entrepreneurs which will reinvest in the transaction.
