The Public Sector Pension Investment Board – one of Canada’s largest pension investment managers – has acquired a significant minority interest in Allflex Group from BC Partners. BC Partners acquired Allflex from London-based Electra Partners for $1.3 billion in May 2013.
Allflex designs, manufactures and sells livestock species and companion animal identification and monitoring products (“animal intelligence products”) such as radio-frequency identification (RFID) and visual ear tags, tissue sampling devices, RFID implants, monitoring devices, and milk meters. Customers of Allflex include farmers, regulatory bodies, livestock industries, aquaculture, and pet owners. Allflex is led by CEO Jacques Martin and has approximately 1,700 employees. The company was founded in 1955 in New Zealand and today is headquartered in Vitré, France (www.allflex-group.com).
“Allflex is a high-quality, fast-growing industry leader with a unique market position. We are delighted to invest in the group, as part of PSP Investments’ increasing presence in the European private equity market,” said Guthrie Stewart, Senior Vice President and Global Head of PSP Private Investments. “We look forward to working with BC Partners and supporting Allflex’s management team as it enhances its global leadership in animal intelligence.” BC Partners remains the controlling shareholder in Allflex.
PSP Investments is one of Canada’s largest pension investment managers with C$112 billion of assets under management. PSP has been investing in private equity since 2004 and has approximately C$10 billion of private equity assets under management. PSP manages pension investments for the Federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. PSP has offices in Ottawa, Montreal, and New York (www.investpsp.ca).
“Allflex has performed extremely well and we are delighted to be supported by PSP Investments in order to continue the company’s fantastic growth story. Demand for animal intelligence products and solutions is increasing worldwide and we are confident that Allflex is ideally positioned to continue to lead the space and expand into new markets,” said Jean-Baptiste Wautier, Managing Partner, BC Partners.
BC Partners has €12 billion of capital under management and invests in companies in a variety of sectors. The firm was founded in 1986 and has offices in London, Paris, Hamburg and New York (www.bcpartners.com).
© 2016 Private Equity Professional • 6-14-16
