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Fundraising for Neftys Pharma from UI Investissement, GENEO Capital Entrepreneur and Crédit Agricole Centre France

Paris (France), the 15 of June 2022,

Financière de Courcelles advised Neftys Pharma in a €30m fundraising from a trio of institutional and complementary investors (led by UI Investissement, with GENEO Capital Entrepreneur and Crédit Agricole Centre France) to support the company’s strong development. This fundraising opens a new development phase allowing the group to lead the consolidation of the European market.

With a €300m expected sales in 2022, the group intends to strengthen its position as a key player in the sector in Europe by pursuing its consolidation strategy. The €30m capital increase led by UI Investissement – together with GENEO Capital Entrepreneur and Crédit Agricole Centre France – coupled with structured financing of more than €52m obtained in April 2022 from the group’s historical bankers, materialises this ambition by enabling the group to take external growth opportunities. Neftys Pharma also intends to continue its development on the African continent.

Diego Mignot, CEO of Alliando, holding of Neftys Pharma:”I am delighted to welcome new investors to Neftys Pharma’s capital, which will enable me to structure the group, build loyalty and attract new talent, and above all take acquisition opportunities in a highly fragmented European market. I was convinced by the UI Investissement team, which is recognised for its expertise in healthcare and its benevolence towards managers, and by GENEO Capital Entrepreneur, which specialises in assisting small and medium-sized companies, particularly in their international development and CSR. Crédit Agricole is a long-standing partner and has always supported us in our various development plans. Our project is ambitious as we aim to double in size within 5 years and become a European player to support our partners in their various markets”.

Founded in 1987 within the OCP Group, Neftys Pharma is a wholesale distributor specialising in the distribution of veterinary products to animal health and welfare professionals. Formerly known as Veto Santé, the Group became independent in 1997 when Jacques Mignot carried out an MBO and strongly expanded in France (No. 3 in the sector) and then internationally under the management of his son Diego Mignot who arrived in 2013 to gradually take over the direction.

Neftys Pharma is now a reference one-stop shop capable of managing the supply, storage and distribution of veterinary medical products (vaccines, medicines) and non-medical products (food, food supplements, hygiene products). The company positions itself as an intermediary between veterinary pharmaceutical laboratories and manufacturers of non-medical products and retailers (veterinary clinics, animal breeders, specialist shops and pharmacies). The group also provides depository services, sales promotion and services to laboratories.

Drive organic and external growth

Neftys Pharma operates in a European market for veterinary products estimated at €24B in 2020. It is driven by an increase in the number of pets and livestock per capita (for consumption), as well as an increase in spending per animal and the development of insurance for animals.

The Group plans to achieve organic growth by diversifying into new products distributed to new customers and new markets (e-commerce, supermarkets, etc.). At the same time, Neftys Pharma will pursue its external growth strategy, illustrated by the completion of 9 acquisitions over the last 24 months and continue to be one of the only consolidation platforms in the European market capable of carrying out a buy and build strategy.

Financière de Courcelles’s team is delighted to have supported the Neftys Pharma group and its management in this transaction. Alongside the management team, we first conducted a strategic review of the appropriate financing for the group’s development and then built a financial structure that corresponds to its objectives and needs for the coming years.     


Company side:

  • Company: Neftys Pharma (Diego Mignot, Elisabeth Siachoua)
  • Financial advisor: Financière de Courcelles (Michaël Petit, Jacques Schwab, Nikita – Picard)
  • Legal counsel: Gide (Axelle Toulemonde, Clara Abidri)
  • Management package advisor: Mayer Brown (Laurent Borey, Paul de Préval, Pauline Barbier)
  • Financial due diligence: Alvarez & Marsal (Donatien Chenu, Julien Szaleniec, Clément Allouard, Mohamed Benkirane)

Investor side:

  • Investors: UI Investissement (Olivier Jarrousse, Thomas Schmidt, Louis Champion, Matthieu Le Campion); GENEO Capital Entrepreneur (François Picarle, Louis Charrier); Crédit Agricole Centre France (Xavier Deyra, Laure Julien)
  • Legal counsel: De Pardieu Brocas Maffei (Magali Masson, Jeanne Rochmann and Sarah Dirani (corporate M&A); Priscilla Van Den Perre and Pierre-Alexandre Pujol (tax law)); Philippe Rozec, Clodoald de Rincquesen and Perrine Piat (employment law); Sekri Valentin Zerrouk (Pierre-Emmanuel Chevalier, Natacha Baratier, Chloé Metivier)
  • Financial due diligence: PwC (Benoit Cambournac, Sophie Brunot, Medhi Chafai); Grant Thornton (Françoise Mechin, Alain-Régis Grail, Pierre Aubrun)
  • Banking advisor: Etxe Finance (Luc Demarre)

Debt: LCL (Sylvain Delomier, Benoît Astier, Vincent Casse, Guillaume Moreau); Crédit Agricole Centre France (Vincent Becquevort, Romain Filhon, Jean-Philippe Garetier)

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