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LBO FRANCE announces Acquisition of PIEX

 In Finances & Capital
LBO FRANCE announces Acquisition of PIEX
LBO FRANCE announces Acquisition of PIEX

LBO France announces the acquisition, alongside Mr. Bertrand Talboter and his management team, of the company PIEX, a key player in the distribution of pharmaceutical and parapharmaceutical products in Africa.

Paris, 4 September 2017 – LBO France announces the acquisition of the majority of the capital of the company PIEX (“the Company”). This operation is carried out by giving to Mr Talbotier and its management team a stake in its equity together with the funds Africinvest Europe, BNP Paribas Développement, BPI and Trocadéro capital Partners.

PIEX is a pharmaceutical establishment founded in 1979 by Mr. Robert Jamain, its current president, and has become a key player in the market for the distribution of pharmaceuticals in Francophone sub-Saharan Africa.

Its unique positioning, based on its high expertise in targeted markets and its ability to manage the products of many pharmaceutical and parapharmaceutical laboratories in a professional, agile and flexible way makes PIEX a partner Inescapable to penetrate the continent via a large network of local wholesalers.

For nearly 40 years, the company has established and maintained a privileged link between pharmaceutical companies around the world and health professionals located mainly in sub-Saharan Africa, its historical clients, and now in Central Asia, demonstrating its know-how and its made-to-measure logistics.

Its turnover amounts to 80m € in 2016, an annual increase of the order of 12% since 2005, is spread in more than 30 countries including Côte d’ivoire (22%), Senegal (14%) and Cameroon (10%). PIEX distributes more than 750 products to approximately 350 customers.

In order for PIEX to increase its sales and market share, LBO France alongside a new management team, led by Bertrand Talboter (entrepreneur with nearly 20 years of experience in the pharmaceutical industry with a focus on Africa), has Identified 3 major axes:

  • The conquest of new pharmaceutical and biotech groups
  • Expanding to new, dynamically growing geographic areas
  • The expansion of its high-value-added service offer

Jean-Marie Leroy, Partner at LBO France, commented: “This investment in a primary LBO illustrates our strategy of supporting family businesses in a new phase of their development with the arrival of a new Management This acquisition is a strong sign of LBO France in the choice of its investments and the very nature of PIEX, a company evolving in the health sector mainly in the direction of Africa, demonstrates our commitment to the values of CSR that guide our investments.”

Bertrand Talbotier, president of PIEX, adds: “The acquisition of PIEX by LBO France and its management team is a major step in setting up our strategy to create a leading player in the distribution of medicines and health products. The global project around PIEX aims to improve life and health in the targeted territories by bringing quality products and services to historically disadvantaged populations and countries. Our ambition is to develop an innovative, profitable, sustainable, respectful and exemplary model in its operational deployment. I am very honoured to lead this project alongside LBO France and our other partners and to bring it to the expected success.”

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Trocadero Capital Partners participates in the transmission of the PIEX group