Milbank advised private equity investor Ardian on the financing for the acquisition of a majority stake in GBA Group, a leading independent TIC (Testing, Inspection, Certification) provider of bioanalytical laboratory services, alongside GBA’s management team and Quadriga Capital. GBA was acquired by way of a preemptive bid outside an auction process. The unitranche/super senior financing is provided by debt funds managed by Alcentra Ltd. as unitranche lenders and Berenberg Bank as super senior lender. Further unitranche and super senior lenders may join prior to closing. The transaction is subject to customary closing conditions, including regulatory consents.
Ardian is a leading private equity firm based in Paris with more than 700 employees in 15 offices. The company manages assets of US$110 billion in the investment categories Direct Funds, Funds of Funds, Infrastructure, Private Debt and Real Estate. Ardian has deep expertise and an extensive network in the TIC sector as well as the sub-segments served by GBA. Together with Quadriga, Ardian will partner with GBA’s management team to further grow the business through investments in its core, as well as expansion into new markets.
The GBA Group, founded in 1989 and headquartered in Hamburg, Germany, brings together a network of dynamic companies providing laboratory analysis and related services to customers. The core testing service competencies are focused on the fields of food and beverage, pharmaceutical, and environmental analytics. Today, GBA’s network comprises 39 locations and 44 laboratories with approximately 1,400 employees.
Team Milbank:
Thomas Ingenhoven (lead), Odilo Wallner, Thomas Möller and Lara Milione (all Finance, Frankfurt).
