EXIT: BaltCap sells Labochema to French laboratory supply distributor Dominique Dutscher
BaltCap Lithuania SME Fund sold its 46% shareholding in Labochema, Lithuanian laboratory supplies trading company, to the French counterparty Dominique Dutscher. Labochema’s former CEO Paulius Miežys and the current chairman Deivaras Šelmys also sold their shareholdings, Šelmys will continue to lead the company. As a result of the transaction completed today, Dominique Dutscher now controls 100% of Labochema.
Founded in 1997, Labochema is a provider of integrated laboratory solutions with branches in all three Baltic countries. It also controls Gidela, a fast-growing laboratory furniture company. The companies employ more than 50 people. The revenue of Labochema was EUR 12.6 million in 2020.
“Labochema is a well-functioning company based on a loyal and highly experienced team of skillful professionals. I am sure Dominique Dutscher’s experience and foothold in European markets will provide Labochema new growth opportunities. BaltCap partnered with Labochema for 10 years, it was a great journey of cooperation and building a successful business,” said Šarūnas Stepukonis, fund partner at BaltCap.
“We are entering a new phase in Labochema’s evolution with a strategic investor who operates across Europe and is one of the largest suppliers of laboratory materials and equipment. Despite the difference in size, Dominique Dutscher’s business philosophy and values are very similar to ours. We are ready and motivated to move together faster and further. I would also like to thank BaltCap’s team for their help and advice – together we have become a mature organization,” said Deivaras Šelmys, the head of Labochema.
This operation will reinforce Dominique Dutscher’s position as the largest independent European distributor of laboratory supplies with ca. EUR 300 million of combined revenue. In keeping with the strategy of the Dutscher group, all group companies will leverage their respective strengths to the benefit of their customers, who will gain access to a larger product portfolio from many of the leading European and Global brands.
Commenting on behalf of Dominique Dutscher, Dominique Wencker, President, said: “Dominique Dutscher has built upon its Life Science expertise to develop a significant share of the laboratory supplies market in France and other European countries. The group is well known for the quality of its service and technical support, the close relationship it maintains with customers and its capability to deliver through an extensive inventory and class-leading logistics capability. Bringing Labochema into the Dutscher family of companies will strengthen the position of the group in Europe and it will allow us to share best practices whilst investing in new opportunities to build on our levels of service and customer satisfaction. We are particularly excited about the extension of our group activities and the geographical reach that this change will bring.”
Dominique Dutscher has been operating since 1982. The group currently has 14 companies located in France, Spain, Italy, the United Kingdom, Slovakia, the Czech Republic, Switzerland, and Germany. Labochema will continue to operate by its name after the transaction.
Labochema’s shareholders were advised by financial advisers Oaklins and legal advisers Ellex in concluding the transaction.
BaltCap acquired the shares of Labochema in 2011. This is the 8th company of the BaltCap Lithuania SME Fund portfolio that has been sold. The fund still owns Impuls, one of the largest fitness club chains in the Baltics with 29 gyms in eight cities. BaltCap Growth Fund, a successor growth equity fund, has invested already in 6 companies since 2019. It invests up to €10 million per company, acquiring a majority or significant minority ownership stakes.
About Dominique Dutscher
Dutscher is one of the leading European laboratory supply distributors with annual revenues of €300 million and 700 employees in 9 countries. Since 2020, the company is owned by private equity fund manager LBO France (€6 billion AUM) and a management team led by Dominique Wencker. Based in France, Dutscher had strong organic growth complemented by targeted acquisitions in France, Spain, Italy and UK.
For more information:
Šarūnas Stepukonis
sarunas.stepukonis@baltcap.com
Phone: +370 6866 6201
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Header photo credit: Louis Reed / Unsplash