24 November 2017
Paris, November 24th 2017 – Motion Equity Partners (« Motion »), an independent mid-market European private equity firm announced today that they had signed an agreement with LFPI Gestion (« LFPI ») and co-investors (Naxicap Partners and Omnes Capital) to acquire Laboratoire Equilibre Attitude (the « Group »). LFPI will also re-invest as minority shareholder to be part of the Group’s next development phase.
Headquartered in Vallauris (France), Equilibre Attitude is a French pharmaceutical laboratory specialised in food supplements distributed through pharmacies and para pharmacies. The Group was established by LFPI through the merger of Laboratoire des Granions (founded in 1948), Laboratoire Equilibre Attitude and Laboratoire Merle. As a result, the Group has a diversified portfolio of health supplements, drugs and sports nutrition products, with some key brands including “Granions” (oligotherapy, mono ingredient and health oriented nutritional supplements), “Chondrostéo” (the market leader in Joint Care food supplements) “Conceptio” (fertility and pregnancy related food supplements, with a pioneer position in men fertility), “EAFit” (the French market leader in Sports Nutrition and Active Slimming products) and “Foucaud” (body care products with essential oils).
Laboratoire Equilibre Attitude distinguishes itself with a medical approach to food supplements, offering formulations supported by scientific evidence of effectiveness (AMM, clinical studies, patented ingredients, etc.). Laboratoire Equilibre Attitude’s R&D capacities and its “Pharma Grade” DNA allow to meet all of its customer needs. Products are either sold on prescription or OTC and are mainly distributed through pharmacies and para-pharmacies. The Group operates with 3 production and logistic sites: Vallauris (head office & logistic platform), Monaco (Laboratoires Granions) and Selles Saint-Denis in Sologne (Laboratoires Merle). The Group counts c.140 employees.
The development strategy carried out by LFPI and its co-investors over the past years has allowed Laboratoire Equilibre Attitude to position itself successfully as one of the key brands for the pharmacist but most importantly also for the consumer. Under LFPI’s ownership, Group has strengthened its in-house salesforce, developed organically a strong expertise in some segments, and accelerated its innovation process to seize emerging trends in its markets.
Laboratoire Equilibre Attitude‘s next development phase will involve strengthening its position in selective distribution and accelerating its digital strategy, taking advantage of its “Pharma Grade” DNA, its strong brands and the growth initiatives set up by LFPI over the past few years. Laboratoire Equilibre Attitude will further expand its product offering, both organically and via acquisition.
Motion Equity Partners has analysed this investment opportunity alongside Caelestys, company founded by Olivier Caix (former CEO of Diana Group under Motion Equity Partners’ ownership). He will join Laboratoire Equilibre Attitude as Chairman.
“We are very pleased to support Laboratoire Equilibre Attitude’s team in this next development phase" said Patrick Eisenchteter, Managing Partner at Motion Equity Partners. "Laboratoire Equilibre Attitude is a longstanding player that has established a leading position in selective distribution thanks to a diversified portfolio of brands with strong reputation. The Group is a robust and resilient platform operating in very dynamic markets, with many opportunities for growth and value creation. We are also looking forward to working again with Oliver Caix and his team.”
Olivier Lange, Managing Director at LFPI, on this operation “On the initiative of LFPI and Management, Laboratoire Equilibre Attitude has undergone a profound transformation over the recent years to become a unique player in the French nutritherapy market. The Group has increased in size fivefold and has gained leading positions in several market segments, benefiting from an internal salesforce of pharmaceutical delegates as well as medical representatives, numerous patents and AMM, a diversified portfolio of high-quality products and a strong innovation capacity. This steady growth has allowed several refinancing of the business for the benefit of its shareholders as well as growing the value of the business. We are particularly pleased to be further support Laboratoire Equilibre Attitude’s growth alongside MEP and Caelestys”
Olivier Caix, CEO and Founder of Caelestys “Laboratoire Equilibre Attitude relies on strong positions in dynamic segments, especially in Sports nutrition, and benefits from its scientific and pharmaceutical know-how. Together with Motion Equity Partners and the Management team, we are convinced of having the unique opportunity to build a major group in the field of dietary supplements, developing a pharmaceutical laboratory at the service of active nutrition. Our strategy will be to reinforce leadership positions on targeted segments, through organic growth and acquisitions, as well as accelerating international development thanks to these strengthened positions”.
About Motion Equity Partners
Independent and 100% owned by its Management team, Motion Equity Partners has an experienced team of investment professionals based in Paris. Specialised in supporting Management teams aiming to accelerate their company’s growth, Motion Equity Partners particularly excels in supporting portfolio companies in their international development, establishing external growth strategies, setting up operational improvement plans or supporting the transition from family businesses. Motion targets control positions in companies of up to € 250 million in enterprise value.
Together with Olivier Caix (CEO from 2007 to 2014), Motion Equity Partners contributed to the transformation of Diana Group, the French natural ingredients supplier to the pet food and food & beverage industry, into a leading global player. After ten years of ownership by Motion Equity Partners and two successful LBO, the Group was sold to the German Group Symrise for an amount of €1.3 billion.
About Caelestys
Founded in 2015, Caelestys has a vocation to accelerate growth of companies in the field of health, nutrition and food, seizing new market trends in preventive healthcare, personalization and digitalization. Caelestys is working with investors and management teams, and steps in at different times of growth, from operational support to co-investment next to major shareholders.
Caelestys’ team, led by Olivier Caix, Nadja Bresous and Eric Lameignere, gathers complementary expertise on operational and strategic management, external growth as well as scientific and technical innovation in the sector of health and nutrition.
In recent years, Caelestys has supported different projects in Europe and USA: strategic analysis for management teams or as part of acquisition processes, and coaching on acceleration of start-ups growth.
Moreover, Caelestys incubates and finances FabLife, a project offering personalized nutrition services that, in the first instance, will go along with therapeutic care.
About LFPI
LFPI Group is one of the premier independent multi-strategy alternative asset managers in Europe with more than three billion Euros of assets under management. We invest in private equity (primary, secondary, co-investments, and funds), private debt (unitranche, mezzanine, senior), real estate (from core to opportunistic in both equity and debt) as well as asset management (fixed income and equity) investing in Europe, North America and Africa with a long-term and prudent investment strategy.
Additional information available at: www.lfpi.fr
