Paris – ARGOS SODITIC, FFH Conseil, and shareholder managers today announced the sale of DINNO SANTE to the Health division of Air Liquide.

Dinno Santé is a French company specialised in providing medico-technical care to diabetes patients at home. Since its acquisition by Argos Soditic less than three years ago, Dinno Santé’s management team has extended the company’s expertise to respiratory services, particularly to diabetic patients suffering from apnea.

The sale to Air Liquide takes place in a context of strong growth for Dinno Santé in a market for home services that is consolidating. The deal will allow Dinno Santé to continue developing its services to diabetes patients using insulin pump therapy. While retaining its corporate structure, Dinno Santé will benefit from the expertise of the Health division of Air Liquide, which in return will benefit from Dinno Santé’s expertise in diabetes treatment.

Antoine Héral, President of Dinno Santé, said, “Beyond the strategic considerations, this operation was made possible by the values of quality of service and professional ethics that both sides share, as well as by the desire to put patients at the heart of all activities. Dinno Santé is in an ideal position to pursue its growth while joining an industrial leader in the home services market.”

Gilles Lorang, Partner at Argos Soditic, added, “Argos Soditic is proud to have accompanied Antoine Héral in taking over Dinno Santé and developing the company’s position as a expert in diabetes treatment. Dinno Santé’s growth, the doubling of its employees since the acquisition in 2007, and the association of management to the capital are all proof that private equity can structure virtuous operations. Argos Soditic will continue to favour growth entrepreneurial endeavours. “ For the cession of Dinno Santé, Argos Soditic made a multiple on its initial investment of more than 4.5.

About Argos Soditic:

Created in 1989, Argos Soditic is an independent European Private Equity firm with offices in Geneva, Paris and Milan, wholly owned and operated by its partners. Argos Soditic focuses on management buy-outs and buy-ins in small and medium sized companies across Europe, but primarily in Switzerland, France and Italy. The group of funds managed by the firm typically take majority stakes ranging from €10m to €50m in companies with revenues of €20m to €400m. The operations Argos Soditic has carried out include Buffet Crampon, Roc-Eclerc, Oxbow, Du Pareil au Même and Kermel in France,  Bellco, GPP, Sparco and CH&F in Italy, and Maillefer, Kägi and ORS in Switzerland.

In €275m fund ARGOS SODITIC V raised in 2006 has allowed the firm to carry out 12 transactions to date: seven MBOs (Sitour, GPP, FHB, Kägi, Orsyp and LEXSI, Misapor), three BIMBOs (Axyntis, Marie Laure PLV and Bellco), one spin-off (Alkan) and two MBIs (Dinno Santé, Mertz).

For more information, please visit our website www.argos-soditic.com

Transaction teams

Sellers
Argos Soditic  - Gilles Mougenot, Gilles Lorang, Louis Verdier
FFH Conseil - Antoine Héral

Advisors to Sellers
Rothschild (Transaction R) - Pierpaolo Carpinelli, Fabien Lenoir, Julien Buronfosse

Legal
SJ Berwin  - Maxence Bloch, Pierre-Louis Sevegrand-Lions
Brémond, Vaisse, Rambert - Benoît Rambert

Press contact:

Madeleine Resener

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