LONDON – 3rd May 2013 – Funds advised by BC Partners (“BC Partners”), a leading European private equity firm, today reached an agreement to acquire Allflex Holdings (“Allflex” or “the Company”), the global leader in animal identification, from Electra Partners for $1.3 billion. The transaction is subject to consultation with the relevant works council in France and certain regulatory approvals.
Headquartered in Vitré, France, Allflex produces visual and electronic identification tags and other tracking products for livestock and other species. With an unmatched track record of successfully and reliably implementing animal ID programs, Allflex has been leading the development of the industry for over half a century. The Company operates four major production facilities worldwide (in France, Poland, Brazil and China) and has 1,200 employees. The Company is the market leader and its products are used in more than 60 countries.
BC Partners plans to support the international growth of Allflex as the Company continues to enhance its position as the global leader in its field. The Company’s growth continues to be driven by strong demand for its best-in-class identification methodology and the on-going professionalisation of the industry, which is further supported by favourable legislative and regulatory drivers. The investment was led collaboratively across BC Partners’ office network, in particular Paris and Hamburg.
Jean-Baptiste Wautier, Managing Partner at BC Partners, said: "Allflex is a truly unique company which provides increasingly important products and services to the agriculture industry. The company has demonstrated strong and consistent growth in recent years, benefitting from increased legal requirements to tag cattle, pigs and sheep, as well as the growing need for farmers to manage their herds efficiently and enhance traceability. Allflex’s impressive growth over the past five years is testament to its ability to continually innovate and create the highest quality products, maintaining its position at the forefront of the industry."
Ewald Walgenbach, Managing Partner at BC Partners, said: "Allflex is a business with strong defensive characteristics and excellent growth potential. We are therefore delighted to be investing in this company and partnering with its talented management. We look forward to supporting Allflex’s growth in the coming years, and working with the team to enrich and expand its offering."
Jacques Martin, Chief Operating Officer, Allflex, said: "We are delighted to have reached this agreement and look forward to working with BC Partners during our next phase of growth. BC Partners’ global network as well as the team’s deep expertise in working with leading businesses will deliver significant value to our business. We would like to thank Electra who has been a great partner to the business for over 14 years."
BC Partners is a leading private equity firm with advised funds of €12.6 billion ($16.4 billion). Established in 1986, BC Partners has played an active role in developing the European buy-out market for 25 years. BC Partners executives operate as an integrated team through the firm’s offices in Europe and North America, acquiring and developing businesses to create value in partnership with management. Since inception, BC Partners has completed 81 investments in companies with a total enterprise value of €82 billion. The acquisition of Allflex is the fifth investment from BC Partners’ ninth fund which held its final closing on €6.7 billion in February 2012.