Last word

BC Partners and AXA Private Equity are to pay €750m for Medica, the French provider of nursing homes and clinics, from Bridgepoint. Bridgepoint and Alpinvest originally acquired Medica from Icade in December 2003 in a transaction totalling €330m.

BC Partners intends actively to support the group’s growth strategy, both in France and Italy, by opening new centres and pursuing further acquisitions. The Médica management team will be led by Jacques Bailet, chairman and CEO, and Christine Jeandel, managing director. Funds advised by BC Partners have previously invested in the healthcare sector, notably in Centro Medico Teknon in Spain; Hirslanden Holdings in Switzerland; and General Healthcare Group in the UK.

Jacques Bailet said: “The recent trend in the financial markets meant that conditions for an IPO were not ideal.”

• Applus Servicios Tecnológicos, a Spanish testing, inspection and certification provider, is to be sold to funds led by the British private equity group Candover for €916m.

Applus shareholders comprising the Spanish water utility Sociedad General de Aguas de Barcelona (AGBAR), as well as the financial services firms Unión Fenosa and Caja Madrid have signed an indicative agreement to sell 100 % of Applus Servicios Tecnológicos to Candover funds.

Under the agreement, Candover agreed to sell on some holdings to Aguas de Barcelona including: 58.7% of Labaqua (a laboratory for water quality measurements), 67% of Idiada Automotive Technologies (a Spanish automotive engineering firm), and 70% of Applus Airon Technic (a Czech automotive engineering firm) for a total consideration of €76.7m.

AGBAR explained that the sale helped it focus on its core business areas of water and health.