Sienna Capital commits €75M to Mérieux Développement


Mérieux Développement announces the launch of a second investment vehicle of € 150 million, with renewed support from Institut Mérieux as well as a new commitment by Sienna Capital, an affiliate of Groupe Bruxelles Lambert.

LYON and LUXEMBOURG, November 4th, 2014
Mérieux Développement, the private equity investment vehicle of Institut Mérieux, was first established in late 2009 to support entrepreneurs and companies within the healthcare sector. The company, chaired by Alexandre Mérieux, announces that it is expanding its activities by creating a second evergreen vehicle, with a total commitment of € 150 million sponsored by Institut Mérieux.
As part of a long-term partnership agreement, Sienna Capital, an affiliate of Groupe Bruxelles Lambert (“GBL”), has committed an initial amount of € 75 million, mostly dedicated to the investment vehicle newly established by Mérieux Développement.
Mérieux Développement will therefore deploy substantial new capital in the healthcare and nutrition sectors in growth capital as well as venture capital. To support this expansion, Mérieux Développement recently opened permanent offices in the United States and appointed Christine Demode as Chief Administrative and Financial Officer.
« We are very honored to partner with Sienna Capital, the investment vehicle of GBL, controlled by the Desmarais and Frère families who have an impressive track-record as long term investors in Europe and North America. The renewed commitment of Institut Merieux and the support of Sienna Capital underscore the quality of the team’s performance since 2010 and the pertinence of our investment approach. » explained Alexandre Mérieux, Chairman of Mérieux Développement.
« We have financed 12 companies and committed € 70 million between 2010 and 2014, with substantial achievements both industrial and financial. This additional financing allows us to ramp-up our operational capabilities in the short term but also represents a very solid basis for our future financial expansion. » added François Valencony, General Manager of Mérieux Développement.
Ian Gallienne, Chairman of Sienna Capital, said: “Sienna Capital is pleased to partner with the Mérieux family, which has more than a century of recognized expertise and global leadership in healthcare. This commitment is consistent with GBL’s strategy to reinforce the diversification of its portfolio and achieve its value-creation objectives including through developing its alternative investments within Sienna Capital.”
Colin Hall, CEO of Sienna Capital, stated: “I am impressed by the team at Mérieux Développement and the portfolio they have constructed. We are glad to be their partner as they continue building a best-in-class healthcare investment firm.”