Houlihan Lokey Advises Ardian

Houlihan Lokey is pleased to announce that Ardian France S.A. (Ardian) has acquired Biofarma S.r.l. (Biofarma), the Italian and European leader in the development, manufacturing, and packaging of food supplements, medical devices, probiotic-based products, and cosmetics. Houlihan Lokey served as exclusive financing advisor and M&A co-advisor to Ardian. The transaction closed on 22 March 2022.

Biofarma is the leader in Italy and Europe in the development, manufacturing, and packaging of food supplements, medical devices, probiotic-based products, and cosmetics. The group is the result of a path of aggregation of six complementary nutraceutical companies (Nutrilinea, Pharcoterm, Apharm, Claire, Biofarma, and the Health Science division of Giellepi). As of today, the group has revenue in excess of €230 million and more than 800 employees.

Biofarma offers its clients an integrated offering, from research and development to the manufacturing and packaging of finished dosage form products, including regulatory support. The group is recognised as the innovative leader in its market, offering its customers a broad portfolio of technologies and proprietary formulations by anticipating market trends.

Ardian is a world-leading private investment house with $120 billion in assets under management. Ardian maintains a truly global network, with more than 800 employees in 15 offices across Europe, the Americas, and Asia. The company manages funds on behalf of approximately 1,200 clients across five pillars of investment expertise: fund of funds, direct funds, infrastructure, real estate, and private debt. This transaction with Biofarma has involved Ardian Buyout Fund VII, a fund with €6.5 billion of commitments to be invested in mid- and large-cap companies in Europe and North America.

Houlihan Lokey provided debt advice on all commercial aspects of the financing transaction. Following a comprehensive selection process involving several potential debt structures, this advice secured a competitive financing package to also support the group’s growth strategy. Houlihan Lokey also acted as M&A co-advisor to Ardian, providing key tactical inputs throughout the process.