Bryan, Garnier & Co's News

Bryan, Garnier & Co advises Abenex and the management team of Hygeco on their LBO

News published on
May Tuesday 9, 2017



  • Hygeco is a leading provider of product and services to the funeral and medical industries
  • Part of the Facultatieve Groep, based in the Netherlands and specialized in cremation
  • Broad product range including thanatopraxy, embalming, transport, medical and funeral supplies and equipment for autopsy and laboratory
  • Strong leadership position in France
  • Rapid international expansion notably in Germany, Spain and the UK
  • 340 people and revenues of €31 million in 2016




  • Bryan, Garnier & Co assisted management in their search for a financial partner
  • We advised Abenex in structuring and negotiating the acquisition
  • Carve-out situation resulting in complex due diligence and an adapted share and purchase agreement
  • Bank financing arranged with two leading financial institutions
  • 4th transaction this year for Bryan Garnier & Co in the healthcare space


About Abenex (


Abénex is a wholly independent firm specialised in investing in unlisted companies. Abénex invests for the long term in growth and operating optimisation projects alongside the management teams. It specialises in expansion capital and buy in/buy outs, with or without leverage. The Abénex team has proven and acknowledged expertise in acquisition projects, delisting projects and partnerships with family shareholders. Its investments in companies with an enterprise value of up to €500 million can be either majority holdings or minority stakes.

About Hygeco (

Founded in 1887, Hygeco is a leading player serving the funeral and medical industries in Europe. Hygeco offers a broad range of product and services including thanatopraxy, embalming, transport, medical and funeral supplies and equipment for mortuary, pathological institute or laboratory. In France Hygeco is the market leader in the field of transporting and tending to the deceased. Hygeco employs 340 people and has operations in France, Germany, Spain and the UK.

Deal team

Hervé Ronin
Partner, Healthcare
T:+33 1 70 36 57 22