News
Hoche Avocats advises Keensight Capital on the acquisition of a majority stake in BYG4lab, a leading data management software for medical laboratories, alongside with the management team and IRDI Capital Investissement
Founded in 1982 and headquartered in France, BYG4lab develops software that enhances the efficiency of a laboratory. BYG4lab provides a number of key benefits (e.g. improving workflow management, making instrument integration more efficient, handling mega lab configuration, designing personalized dashboards, maximizing automatic validation, and managing quality control). BYG4lab addresses both Central Lab and Point of Care testing, as well as all disciplines in the field of medical biology (e.g. immunochemistry, hematology, molecular, microbiology) serving 4,500+ individual laboratories, including some of the large, major European players.
BYG4lab is the clear European leader with one of the most comprehensive offerings, covering all disciplines of a laboratory, with the ability to connect to any kind of diagnostic equipment. It covers the entire software chain from license sale and implementation to maintenance and after-sales services. Its products provide best-in-class technological capabilities, including an outstanding user experience, which together have been made possible thanks to strong investments in R&D.
Since its acquisition by Cyril Verhille supported by IRDI Capital Investissement in 2012, BYG4lab has grown to become a team of nearly 100 employees, of which c.40% work in R&D, while delivering an annual double-digit sales growth. It benefits from strong, favourable client recognition given its ability to deliver turnkey solutions, answering customers’ needs by increasing efficiency, delivering high quality outcomes, and driving cost effectiveness.
BYG4lab has a proven business model in an attractive market that is poised for continued growth. Keensight Capital will support BYG4lab’s management team in its ambition to become the world leader in data management software for laboratories by expanding into new strategic areas in Europe and North America, tackling other sectors of activities, and further diversifying its offering and reach by developing new products and partnerships. These value creation levers will be achieved both organically and through acquisitions.
About BYG4lab: BYG4lab is a software company specialized in Data Management solutions in the healthcare industry. Available in 11 languages, the BYG4lab solutions are used by more than 4500 laboratories around the world. BYG4lab is the privileged partner of several companies in the IVD industry including instrument suppliers and both private and public laboratory networks. BYG4lab is ISO 13485: 2016 certified and follows the most demanding international recommendations in terms of the medical software development cycle (IEC 62304), cybersecurity and data privacy.
About Keensight Capital: Keensight Capital, one of the leading European Growth Buyout firms, is committed to supporting entrepreneurs as they implement their growth strategies. For 20 years, Keensight Capital’s team of seasoned professionals has leveraged their knowledge of investment and growth industries to invest for the long term in profitable companies with high growth potential and revenues in the range of €10 million to €400 million. Drawing on its expertise in the Technology and Healthcare sectors, Keensight identifies the best investment opportunities in Europe and works closely with management teams to develop and achieve their strategic vision. Keensight Capital’s success has earned it a Gold Award from the Private Equity Exchange & Awards each year for the last five consecutive years, and in particular, the Best European Growth Private Equity Fund.
About IRDI Capital Investissement: Based in Toulouse, Montpellier and Bordeaux, the management company IRDI Capital Investissement supports with capital companies based in the Southwest at every stages of their development (initiation, risk capital, development capital / transmission). With €480 million AUM, IRDI Capital Investissement has the capacity to follow investments to €15 million. IRDI Capital Investissement is a partner of nearly 200 SMEs in many sectors of activity.
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Keensight Capital’s legal counsel: Hoche Avocats: corporate: Grine Lahreche (partner), Adina Mihaescu (counsel), Audrey Szultz (associate) and Agathe Olivier (associate); tax: Jérôme Mas (partner) and Alexandre Thuau-Renaudet (associate); financing: Ariane Berthoud (partner).
IRDI’s legal counsel: The Line Avocats: Alexandra Ménard (partner).
BYG4lab and the management team’s legal counsel: Dentons: Pascal Chadenet (partner), Emeline Beria Mapote (associate) and Pauline Barbou Des Places (associate).
Banks’ legal counsel: Simmons & Simmons: Colin Millar (partner), Iva Parvanova (supervising associate) and Matthieu Loonis (associate).
Private Equity Wire – 22 July 2022