Ardian arranges €255m subordinated financing for Ceva Santé Animale

This fourth investment from Ardian Private Debt III fund underlines Ardian’s strong position in the European midcap financing market

Ardian, the premium independent private investment company, today announces that it has arranged a €255 million subordinated financing facility for the management buyout of veterinary health company Ceva Santé Animale.
The Ardian Private Debt team is supporting Management and employees as majority shareholders together with incumbent minority shareholders as well as new investors Temasek and CDH Investments. Post-transaction, Ceva’s management and employees will retain majority stakes in the company. This new shareholding structure will contribute to unlocking the next stage in Ceva’s international expansion, notably in Asia. It will also further support its aim of becoming a top-5 player in the animal health industry by 2020.
Ceva is a global veterinary health company which, since becoming independent in 1999, has grown significantly above the industry average, on the back of an organic strategy focused on developing innovative products. This has been successfully complemented by a programme of multiple build up acquisitions.
Guillaume Chinardet, Managing Director at Ardian, said: “We are thrilled to have a role in the next stage of Ceva’s development through the provision of this €255 million subordinated facility fully underwritten by Ardian. This is our third consecutive transaction with Ceva, after a mezzanine investment in 2007 and additional growth financing in 2012. It epitomizes our emphasis on partnerships and long-term development, and is a testament to our ability to provide continued financing support to our portfolio companies.”
Marc Prikazsky, Chairman and CEO of Ceva Santé Animale, added: “Ardian has been a highly supportive partner since 2007, and we are glad to receive their backing once more. They are always mindful of our needs, and are able to provide us with tailored financing solutions.”