Duke Street, the European mid-market private equity firm, has acquired Biomnis, a France-based provider of medical diagnostics, for a total consideration of €217 million (£174 million).

Duke Street, the European mid-market private equity firm, has acquired Biomnis, a France-based provider of medical diagnostics, for a total consideration of €217 million (£174 million).

Biomnis has laboratories throughout France, operating from two main sites in Paris and Lyon, with further sites in Dublin and Dubai.

The company has revenues of more than €220 million and employs over 1,600 staff, a large proportion of them being scientists and biologists.
 
Post acquisition, Duke Street will support the company’s expansion plans. The deal provides continuity with the current CEO, Jean-Louis Oger, taking up the role of non-executive chairman and Pierre-Yves Guiavarch joining as CEO from healthcare services group General de Sante. Duke Street operating partners Charles Woler and Thierry Paternot will join the board as non-executive directors, providing further support to the management team.
 
The deal is financed by a senior debt facility arranged by Fortis and a mezzanine facility arranged by AXA Mezzanine.