Nordic buyout firm Industri Kapital has taken a 3.5 times return on its investment in veterinary laboratory Ceva Santé Animale, by selling the business to a group of investors comprising Euromezzanine and two private equity firms for an undisclosed sum.

The sale to Euromezzanine, Natexis Industrie and Natixis Investissement is Industri Kaptial's first deal since it began fundraising last month, as revealed by sister publication Private Equity News. Industri Kapital is targeting €1.25bn ($1.7bn) for the fund, which is being placed by UBS.