CVC Credit is pleased to announce that it is amongst a group of lenders that has provided debt facilities to support the public acquisition offer of SYNLAB AG (“Synlab”), a leading pan-European provider of clinical laboratory and medical diagnostic services, by Ephios Luxembourg S.à r.l., an entity controlled by funds managed and/or advised by Cinven.
Headquartered in Munich, Germany, Synlab operates in over 30 countries across four continents. The company holds leading market positions in various regions. Synlab is known for its commitment to providing world-class services in both routine and specialty diagnostics. With more than 27,000 employees, including over 2,000 medical professionals, Synlab plays a pivotal role in shaping global healthcare, performing approximately 600 million laboratory tests per year. In 2022 the business achieved revenues of €3.3 billion.
Moris Nachmias, Managing Director at CVC Credit, commented: “Synlab operates in a large and highly attractive growth market that is driven by strong non-cyclical trends, has significant barriers to entry and remains fundamental to the delivery of medical outcomes. We look forward to supporting Synlab as it continues to solidify its leading position globally.”
At CVC Credit, our aim is to support the growth of resilient businesses with experienced financial sponsors. Synlab sits firmly in this category and we are happy to be supporting them in the next chapter of their growth journey.
Andrew Davies Managing Partner and Co-Head of Private Credit at CVC Credit
Andrew Davies, Managing Partner and Co-Head of Private Credit at CVC Credit, added: "We are delighted to be working with Cinven, an international private equity firm focused on supporting companies that want to step-change their growth. At CVC Credit, our aim is to support the growth of resilient businesses with experienced financial sponsors. Synlab sits firmly in this category and we are happy to be supporting them in the next chapter of their growth journey.”