Clifford Chance announces that it has advised Cinven on its acquisition of pan European laboratories business, synlab from BC Partners for approximately EUR1.2bn.

The multi disciplinary team, based in London and Frankfurt was led by Global Head of Private Equity and Cinven relationship partner Jonny Myers and Frankfurt based partner Joachim Hasselbach , supported by senior associate Christopher Sullivan and counsel Frederik Mühl. In London, finance partners Taner Hassan and James Butters advised on the loan side, with support from Andrew Husdan and Fabio Diminich advised on the high yield aspects with support from Claudia Kim. Alastair Mordaunt is advising on the antitrust aspects with support from Petra Carey.

This transaction follows swiftly on from Clifford Chance advising Cinven on its  acquisition in May from a consortium of investors of Labco, one of the largest European operators of medical diagnostics laboratories, headquartered in France, for an enterprise value of EUR1.2 billion. The combination of the Labco and synlab businesses in the European diagnostics laboratory sector has compelling industrial logic.