Kersia

Private Equity Manager (GP)

Case study

About the company

Kersia was founded in 1985 as a subsidiary of Groupe Roullier. The company is a leading European provider of biosecurity, disinfection and hygiene solutions for the food and beverage, farm and healthcare industries. Headquartered in Dinard, France, Kersia operates 23 manufacturing sites and has approximately 1,800 employees.

Why invest

As a leading manufacturer servicing non-cyclical end markets with stable growth prospects, Kersia has an attractive business model with demand driven by heightened regulation and established positions in key markets. IK Investment Partners (“IK”) has prior experience in the healthcare sector and the biosecurity market in particular, with a strong focus on deal origination. Given the fragmented market and current consolidation trend, further buy-and-build to accelerate growth is anticipated. Company management has a track record of successfully integrating businesses.

Our relationship

Pantheon has an established relationship with IK, dating back to the early 2000s. Pantheon is a primary investor in eight IK funds and has acquired secondary interests in several IK funds. In addition, Pantheon has participated in a number of co-investments alongside the manager. Pantheon is an Advisory Board member in six IK funds.

Active management

Together with the management team, IK has continued to develop the company through the following value creation initiatives:

• Implemented cross-selling and operational excellence initiatives.
• Completed add-on acquisitions shortly after closing the deal (Sopura and Bio Armor).