Cathay Capital sells its stake in IMV Technologies

May 4, 2020

Cathay Capital today announces that it has sold its stake in IMV Technologies, the world leading manufacturer of material used for artificial insemination in animals. Cathay Capital invested in the company in 2010 alongside Pragma Capital and Eurazeo PME. As part of a joint agreement reached between all parties involved in this operation, Cathay Capital has concluded the sale of its stake to Qualium Investissement, which will now become the majority shareholder alongside the management team and the Chairman of the Executive Board, Gilles de Robert de Lafregeyre.

IMV Technologies was founded in 1963 and is based in L’Aigle (Orne, Lower Normandy). The group designs, manufacturers and markets equipment and consumables used throughout the process of artificial insemination for 14 species of animal. IMV Technologies also offers a complementary expertise in reproduction biotechnologies for humans, in particular in cryopreservation solutions for the Biobanking market.

With a well-developed international distribution network (covering over 120 countries) and its 5 local branches (China, the United States, India, Italy, the Netherlands), 80% of the company’s turnover is generated through exports, and the group employs around 450 people throughout the world.

Over the last four years, Cathay Capital has partnered with the group in order to implement its cross-border growth strategy, particularly in relation to its development on the Chinese market. Through its local knowledge and its wide international network, Cathay Capital’s support helped IMV Technologies to strengthen its position on this fast-growing market from its production site based in Shanghai.

For Mingpo Cai, President of Cathay Capital: “Alongside our co-investors, our support has allowed IMV Technologies to successfully undertake an important stage of its international development, which has been achieved through an external growth strategy. We have helped the company conclude various acquisitions, at a rhythm of one every year, while building and diversifying its product offering.”

For Gilles de Robert de Lafreygeyre, Chairman of the Executive Board at IMV Technologies: “Successful expansion on the Chinese market has been one of the main strategic objectives for IMV Technologies for a long time, and, thanks to Cathay’s unique ecosystem and our local support in both France and China, IMV Technologies has been able to consolidate its position in China as well as more broadly in other international markets.”