Press release - 22 September 2006
CapMan builds Nordic healthcare group
─ two substantial acquisitions in Sweden
Funds managed by CapMan and Plena AB have signed an agreement for the acquisition of two Swedish healthcare companies SelefaTrade AB and Förbandsmaterial AB. CapMan funds acquired Finnish Tamro MedLab Oy, which specialises in healthcare products and equipment as well as laboratory products, from Tamro Corporation in July this year. The execution of the new acquisitions requires the approval of competition authorities, and they are expected to be finalised by the end of November.
All three acquisitions have been made via the same holding company, which is owned by CapMan funds together with Plena AB and the management of the acquired companies. SelefaTrade AB and Förbandsmaterial AB will continue their operations as independent units and their personnel’s employment will remain unchanged following the transactions. The group that is formed with the transactions is the market leader in the Nordic countries and it also has a substantial position in the Baltic states. The group’s pro forma turnover is estimated at approx. EUR 200 million for 2006.
Förbandsmaterial AB is Sweden’s leading wholesaler of healthcare products to local authorities and the private sector. The company has 46 employees and its turnover amounted to SEK 253 million in 2005.
SelefaTrade AB imports, markets and distributes particularly disposable hospital products in Sweden and other Nordic countries. The company’s major customers are the county councils of Sweden, pharmacies and Nordic wholesalers. SelefaTrade AB employs 19 people, and the company’s turnover was SEK 213 million in 2005.
Tamro MedLab Oy imports and markets healthcare products and equipment as well as laboratory products in four Nordic countries and the Baltic states. The company has 270 employees, and its turnover totalled EUR 133 million in 2005.
”This merger gives rise to a prominent Nordic group in healthcare products and equipment as well as laboratory products,” states Ari Tolppanen, Chairman of CapMan’s Board of Directors. “Förbandsmaterial AB and SelefaTrade AB have excellent management and long traditions, with a solid position particularly in Sweden. The companies complement our earlier acquisition Tamro MedLab Oy, which has a strong position especially in Finland and Denmark but a modest one in Sweden. I firmly believe that the bigger company size increases the competitiveness of the companies and benefits customers in both the public and private sectors in all Nordic countries and the Baltic states.”
”The newly formed group is a strong player in a consolidating and constantly changing market, and its size brings us many synergies. Our aim is to be, with the competitive advantage of a larger entity, the best possible partner for all of our customers. We are also pleased and enthusiastic that Plena AB is an owner in the new entity,” says Sara Sjöborg Wik, CEO of Plena AB.
The investment in the new healthcare sector group is made by CapMan Buyout VIII and CapMan Mezzanine IV funds, in which CapMan Plc is a substantial investor.
For further information, please contact:
Ari Tolppanen, Senior Partner, Chairman of the Board, CapMan, tel. +358 500 407 343
Sara Sjöborg Wik, CEO, Plena AB, tel. + 46 706 58 61 05
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