Ceva Animal Health establishes new capital structure

Ceva Animal Health has announced a series of changes to its capital structure that will support its efforts to move ahead with a new phase of growth.

Under the new changes, the company's managers and around 1,000 employees will strengthen their position as majority shareholders, thanks to support from local financial investors and retired managers.

Meanwhile, Temasek has taken a stake in the business as a significant minority and largest investor, with long-term partners Euromezzanine and Sagard agreeing to reinvest significantly. CDH Investments, a leading Chinese fund, will also offer financial backing.

These transactions will support Ceva's ambition to become the first independent player within the top five global animal health companies by 2020.

Marc Prikazsky, chief executive officer of Ceva Sante Animale, said: "We are grateful for the confidence that our financial partners – new and old – have placed in us."

Originally founded as a division of Sanofi, the company was established as an independent business following a leveraged management buy-out in 1999. It has grown considerably since then, acquiring 19 companies since 2000.