For EdRIP, 2016 was a year of major transformation and significantly accelerated growth.
The acquisition of ActoMezz, a mezzanine debt investment firm with over €400 million under management, adds a fourth pillar to EdRIP. Building on its success in hitting a hard cap of €170 million in fundraising for the Cabestan Capital 2 fund targeting small-cap firms, and the first closing of the Bio Discovery 5 fund on €170 million EdRIP is consolidating its position as a leader in the European market for SME financing and in the global biotechnology financing market. Its investment teams were extremely active in 2016, deploying just over €200 million in capital and mezzanine debt, financing 16 new projects and reinvesting in 22 firms in its portfolio. Disposals have also been accelerating at a steady pace, with more than €270 million generated by sales transactions involving companies in the franchise portfolios.
Thanks to its broad diversification, EdRIP has reached a new level. Following the 2016 fundraising campaign, the company is managing more than €1.6 billion with help from 55 employees, including 12 staff recruited during the year. With the arrival of the ActoMezz franchise, EdRIP is able to offer a wide range of private equity services designed to meet the various growth challenges facing entrepreneurs as well as the needs of institutional and private investors who are seeking stable, high-performance investment products. In addition, EdRIP continues to expand the geographical scope of its investment activities beyond its traditional market in France, acquiring stakes in companies based in Italy, Spain, Switzerland, Belgium, the UK and the US.
EdRIP is very proud to be nurturing today’s SME economy and to be contributing to the development of new therapeutic innovations for human diseases. In just the past few years, businesses supported by the specialised funds at EdRIP have introduced 19 therapeutic products on the market, and 55 therapeutic products and medical devices are currently being evaluated. In all, these managed funds are providing financing to 94 European and US firms with cumulative turnover exceeding €6.4 billion and EBITDA of more than €500 million in 2016. In addition to the economic might that these companies wield in numerous business sectors, they currently employ nearly 26,000 workers.
For Gilles Nobécourt and Antoine Le Bourgeois, Managing Partners at EdRIP,
“2016 was a landmark year for our staff, who demonstrated their strong commitment on numerous fronts, including fundraising as well as growth of the companies under their wings. On the strength of the talented new employees who joined the firm during the year and the loyalty of its staff and investors, EdRIP is poised to maintain its growth in the years to come.”