Hivest Capital enters into exclusive negotiations with Air Liquide to acquire CRYOPDP

Paris, March 2nd, 2020 – Hivest Capital, an independent French private equity firm, has entered into exclusive negotiations with Air Liquide to acquire 100% of the capital of CRYOPDP (the ”Group”), a global leading provider of temperature-controlled solutions for the clinical trials and Cell & Gene industries.

CRYOPDP, a subsidiary of Air Liquide, has provided temperature-controlled logistics solutions to the Clinical Research Community for more than 25 years. Headquartered in France and present globally in 12 countries, the Group employs 250 people who operate more than 500.000 temperature controlled packaging (TCP) shipments per year in more than 150 countries with a best-in-class quality (>99% service rate).

Hivest Capital, in partnership with the current management team, aims to consolidate CRYOPDP as a major international player with an extended network and market reach.

Hivest Capital intends to provide the Group with the resources to meet the new challenges of the high-end healthcare logistics (developing leading solutions for the clinical research and Cell & Gene therapy, improving digital services) and to accelerate its development through a targeted external growth strategy.

The transaction is subject to the signature of a final and definitive agreement between the parties, and will be carried out in the framework of the relevant social processes.

ABOUT CRYOPDP
One of the worldwide top specialists in the temperature controlled solution dedicated to the clinical trials and cell & gene therapies with more than 25 years of experience in life sciences, CRYOPDP has more than 250 employees in 12 countries. With its headquarters in France, CRYOPDP operates worldwide in more than 150 countries with a dedicated global network providing customized and tailor-made transport and logistic solutions for high-value time-and- temperature-sensitive shipments.

CRYOPDP aims to improve the health of people around the world by providing global innovative temperature-controlled logistics solutions to the Clinical Research Community and to the Cell & Gene industry.

ABOUT HIVEST CAPITAL
Hivest Capital is an independent French private equity firm approved by the Financial Markets Authority. In the context of buyout or expansion capital projects, Hivest Capital invests in the capital of French SMEs or MidCaps whose turnover is generally between €50 million and €500 million. The private equity firm aims to help companies unlock their full potential through innovative growth strategies and operational performance improvements.

LIST OF PARTIES INVOLVED

Buy Side
Investor – Hivest Capital Partners: Cédric Lépée, Axel Bonnassies, Barthélemy Grave, Sacha Gasy, Louis Morante
Debt raising – Rothschild: Mathilde Paoli, Edouard Lagarrigue de Meillac, Anais Pons
Lawyer (corporate) – Stehlin & Associés: Jean-François Copé / Hogan Lovells: Stéphane Huten, Ali Chegra, Bob Zeller
Lawyer (financing) – Cabinet Hericotte: Erwan Hericotte
Legal, tax and social DD – PWC: Eric Hickel, Nicolas Arfel, Bernard Borrely
Financial DD – KPMG: Damien Moron, Alexandre Legeard
Commercial DD – Strategy&: Romain Godard, Tugdual Hervouet, Thomas Peny-Coblentz
Insurance DD – Marsh: Humbert d’Autichamp

Financing
Lender – Tikehau Capital: Cécile Mayer Levi, Vincent Leprevots
Lawyer – Goodwin: Arnaud Fromion, Frédéric Guilloux

PRESS CONTACT
Groupe Boury, Tallon & Associés
Clara Dallay – A+ Conseils06.48.45.01.53
clara.aplusconseils@gmail.com