Columna Capital Eyes Evidenze Acquisition for €150M

London-based private equity firm Columna Capital is in exclusive negotiations to acquire Evidenze, a Spanish healthcare services provider, in a transaction valued at approximately €150 million. The deal marks a significant move for Columna Capital into the dynamic Southern European healthcare sector, a segment demonstrating robust investor appetite due to favorable demographic trends and increasing outsourcing by pharmaceutical giants.

Evidenze, which operates across contract research organization (CRO) services, patient support programs (PSP), and specialized healthcare consulting, has attracted considerable interest. The competitive sale process, orchestrated by financial advisor Evercore, saw Columna Capital emerge as the preferred bidder, outmaneuvering rivals such as Andera Partners and Qima. Another private equity player, Portobello, had previously exited the bidding.

The target company, Evidenze, generates annual revenues of roughly €40 million and an EBITDA of approximately €10 million. This financial profile aligns with Columna Capital's investment strategy, which typically targets continental European businesses with revenues ranging from €15 million to €100 million. Columna Capital, with offices in London, Lugano, and Luxembourg, seeks to leverage its expertise to foster further growth and potential international expansion for Evidenze.

Evidenze was strategically assembled by Buenavista Equity Partners (formerly GED Capital) in 2020 through a consolidation strategy, integrating eight distinct entities. Since its formation, Buenavista Equity Partners has actively driven Evidenze's expansion through both organic initiatives and additional acquisitions, solidifying its position in the healthcare services market. This divestment represents a key portfolio management step for Buenavista Equity Partners, following previous exits such as Shop and Roll to Nexxus Iberia and Aviaction to Arta Capital.

The healthcare services sector in Spain continues to be a magnet for private equity investment. Factors such as an aging population, rising healthcare expenditure, and the growing trend of pharmaceutical companies outsourcing clinical research and patient management services contribute to its resilience and growth potential. Evidenze's diversified service offering positions it well to capitalize on these market tailwinds.

Columna Capital's existing portfolio includes diverse businesses such as veterinary clinic platform Mivet, juicing machine manufacturer Zumex, and crane services provider Grupo Gruas Carter. The acquisition of Evidenze would represent a significant addition to its healthcare-focused investments, underscoring the firm's commitment to sectors with strong underlying growth drivers.

Pending the finalization of negotiations and customary regulatory approvals, the transaction is anticipated to conclude in the coming months. This deal further highlights the robust M&A activity within the European healthcare services domain, driven by strategic consolidations and private equity's ongoing search for high-growth opportunities.