Private equity giant 3i has acquired a majority stake in France’s fifth largest acute care company Vedici, its first investment in over a year.
3i will join up with N.I. Partners, the private equity division of the NATIXIS group, for the deal, which also allowed Apax Partners to exit on its 2006 40% investment in the company.
In the past four years Vedici has grown from six to 23 centres and its annual turnover has soared from €65 million (£58 million) to €280 million.
The deal is reported to have been worth around €200 million and 3i will own about 55% of the company. NI Partners will own 10% and the management led by chief executive Jérôme Nouzarède will own the remainder.
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