EQT VI to sell BSN medical to SCA for €2.7m
EQT VI Limited (“EQT VI”) has entered into an agreement to sell BSN medical Luxembourg Group Holding S.a.r.l. (“BSN medical”, “BSN” or the “Company”) to Svenska Cellulosa Aktiebolaget (“SCA”) in a transaction valuing BSN at EUR 2,740 million.
EQT VI acquired BSN in August 2012 with a view to further expanding its leading market position and accelerating growth. This has been accomplished through:
- Build-out of BSN’s strongly growing specialty segments advanced wound care and lymphology and its Emerging Markets footprint
- Continuous investments in innovations, in combination with strengthening of medical competence and higher focus on clinical studies
- Multiple add-on acquisitions with clear strategic value
- Substantial investments into direct sales force
- Operations platform optimization creating a highly efficient global production set-up
- Strengthening of the organization by establishing an experienced and visionary management team lead by CEO Dr Guido Oelkers
The growth initiatives during EQT VI’s four years of ownership have resulted in increased sales at constant currency by a CAGR of more than 6% and a significant staff uplift. Today, BSN has sales of over EUR 860 million and more than 6,000 employees worldwide.
“BSN medical has been fundamentally transformed into a global growth platform with strong technological foundation. This has been a tremendous team effort, led by the CEO Dr Guido Oelkers. We are very proud of what the team has achieved and to have been part of BSN’s journey. Now the “transformed BSN” finds a new home, and we look forward to see it continue develop as part of SCA. There’s a strong strategic rationale in the complementarity of the BSN’s medical competence and SCA’s leading position in incontinence care, consumer and business-to-business orientation as well as the global reach of both organizations,” said Michael Bauer, Partner at EQT Partners, Investment Advisor to EQT VI.
“This deal is a clear reflection of the dedication and expertise shown by all of our employees over the past four years as well as the strategic progress BSN has made under EQT ownership. EQT provided the support both on an industrial and financial level that allowed the business to thrive and expand internationally. SCA will prove to be the ideal strategic partner, and as a member of its organization we will continue on our growth path. I am very much looking forward to it”, added Dr Guido Oelkers, CEO of BSN medical.
The agreement is subject to customary anti-trust clearance and the transaction is expected to close in the second quarter of 2017.
About BSN medical
BSN medical is a global leader in wound care & related vascular diseases, lymphology and non-invasive orthopaedic products. Founded in 2001, BSN medical currently employs a total of 6,000 and generated revenues of EUR 861 million in 2015 (at actual rates). The Company aims to provide an integrated therapy-driven approach – grounded in a broad portfolio of products, enhanced by insights into current therapeutic areas and complemented by a progressive approach to partnerships. Its well-known brands such as Leukoplast®, Cutimed®, JOBST®, Delta Cast®, Delta Lite® and Actimove® are among the most trusted in healthcare. With its comprehensive product portfolio, BSN medical addresses patients’ needs in the most prevalent conditions in wound care and vascular diseases and orthopaedic treatments.
Source: EQT Press Release