Septentrion Finance has advised on Groupe Elsker’s merger with Groupe Hygie31
26/04/2023
The Hygie31 Group (owned by Latour Capital and Bpifrance since July 2022), which notably includes Pharmacie Lafayette, Optique Lafayette, Médical Lafayette, and the e-commerce site cocooncenter.com, has taken a majority stake in Elsker Group.
Elsker Group, a major healthcare player in the Hauts-de-France region (with nearly €225 million in revenue generated by its network of pharmacies), operates in three distinct business lines:
- Pharmaceutical Grouping under the brand “Pharmacyal” (with nearly 130 members),
- The pharmaceutical purchasing center Norcap (offering over 5,000 references),
- Home Care services (through its MVD entity).
Through this equity investment, Hygie31 aims to strengthen its approach to the French pharmacy market by offering complementary models to support pharmacies as the primary healthcare relay for French customers and patients.
Wishing to contribute to the consolidation of their sector, the founding partners of Elsker Group (Cyril Tétart, Alexis Bocahut, and Gaétan Bocahut) mandated Septentrion Finance to organize the industrial partnership for their Group. Following a swift competitive process, Hygie31 succeeded in securing the deal and convinced the partners of Elsker Group to join the project led by Hervé Jouves, President of Hygie31.
A significant portion of the capital remains in the hands of the three founding partners of Elsker Group, who also retain operational roles within the new entity.
“The founders and leaders of Elsker Group found solid and deeply committed support with Septentrion Finance. Combining very high technical expertise with a human approach focused on thoroughly understanding their clients’ business, the Septentrion Finance team enabled us to analyze and successfully execute this transaction with great efficiency.” — Alexis Bocahut, co-founder and President of Elsker Group.
Septentrion Finance has advised on this transaction, which was completed on April 13, 2023.
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Sell-side advisors:
- M&A: Septentrion Finance (Guillaume Dubois, Rudy Sebbah, Laurine Philbert, Gautier Samain)
- Legal: Pledge Avocats (Edouard Augris)
Buy-side advisors:
- Legal: Joffe & Associés (Christophe Joffe, Camille Malbezin, Carla Ferron, Rudy Diamant)
- Financial, social and tax due diligences: KPMG (Yoann Lefort, Benjamin Guibert, Pierre-Olivier Cosson)
- Inventories due diligences: DG Inventaires (Laure Daumas, Thomas Sonnet, Weike Chen)