A group of direct lenders — including CVC, Apollo and Goldman Sachs — is providing a roughly €425 million loan to support Bridgepoint’s acquisition of laboratory testing services provider GBA Group, according to sources.
The company was marketed on EBITDA of roughly €80 million, and the unitranche was priced at E+475 bps, the sources said.
Majority stake
Bridgepoint said this week that it had acquired a majority stake in the company from Ardian. GBA Group was advised by Morgan Stanley and Macquarie, while Bridgepoint was advised by Citi and DC Advisory as co-lead, alongside Rothschild as M&A adviser. Latham & Watkins acted as legal adviser, according to the statement.
Bridgepoint, CVC, Goldman Sachs and Apollo declined to comment.
Headquartered in Hamburg, Germany, GBA operates a network of laboratories and provides specialist laboratory testing services to more than 60,000 customers across environmental, food, pharmaceuticals, chemicals, medical devices and cosmetics markets. It employs around 3,500 people and has completed 19 acquisitions to date.
Featured image by Tippapatt/Getty Images.
Learn about our editorial standards.
