BNP Paribas Fortis Private Equity acquires a stake in Quality Assistance
5th April 2017
Press release
Donstiennes, 5 April 2017
BNP Paribas Fortis Private Equity has extended its portfolio by buying a minority stake in Quality Assistance, a Contract Research Organisation that is a leading European player in analytical science for the pharmaceutical industry.
The transaction involved BNP Paribas Fortis Private Equity buying all shares owned by the company's co-founder Philippe De Raeve. Quality Assistance's other shareholders now include Philippe Draux – CEO and co-founder, whose family owns the majority of the company's shares – along with SRIW, Valois SCRL (Mestdagh family) and current and former employees.
Quality Assistance was founded in 1982 by chemist Philippe De Raeve and industrial pharmacist Philippe Draux. It is now acknowledged by the pharmaceutical industry as a key partner offering leading-edge analytical support throughout the process of developing innovative medicines for human use. It is a family business whose revenue has grown by 10% per year on average over the last 15 years. It now has 150 talented employees, mostly scientists, and is constantly looking for new staff members to increase its capacity and meet its customers' needs.
For Philippe Draux, the transaction allows Quality Assistance to welcome an institutional investor that will give it a stronger and more international ownership structure, alongside existing shareholders in the public sector (SRIW) and industry (Valois) and its original financial partners (ING and Sambrinvest). "BNP Paribas Fortis Private Equity's purchase of a stake in our company is a vote of confidence in our business model and business plan. It also enhances our financial credibility. The purchase gives BNP Paribas Fortis Private Equity a seat on our Board of Directors, and I am looking forward to the value that this professional international investor will add to our Board."
Jan Bergers, Senior Investment Director at BNP Paribas Fortis Private Equity, added: “Our investment in Quality Assistance is a perfect illustration of our investment strategy of supporting medium-sized companies that have leading market positions and major growth potential. Quality Assistance is a European market leader in providing customised analytical services to pharmaceutical and biotech companies. As an active partner, BNP Paribas Fortis Private Equity is determined to help management to realise its European expansion plans.”
Press contacts :
Quality Assistance : Julie Jia / Nathalie Draux - tél. +32 (0)71 53 47 81
BNP Paribas Fortis Private Equity : Hilde Junius / Jan Bergers - tél. +32 (0)2 565 47 37
Quality Assistance S.A.
Quality Assistance S.A. is a leading European Contract Research Organisation providing the pharmaceutical industry with all the analytical services required by EMA and FDA regulations for the development and marketing of innovative human medicinal products.
For more information, visit quality-assistance
About BNP Paribas Fortis Private Equity
BNP Paribas Fortis Private Equity has been an active private equity provider in the Belgian market since the 1980s.
BNP Paribas Fortis Private Equity takes minority equity positions in and provides mezzanine financing to growing medium-sized companies. Other Belgian companies in which BNP Paribas Fortis PE holds stakes include Studio 100, Novy, Penne, Het Anker and Point Chaud. BNP Paribas Fortis Private Equity also manages a portfolio of international buyout funds as well as local VC funds.
For more information, visit cpb.bnpparibasfortis.be