PE Tech Report


Like this article?

Sign up to our free newsletter

Segulah IV sells Medstop to Oriola-KD

Segulah IV has entered into an agreement to sell 100 per cent of the shares in Medstop Group to Oriola-KD.

The transaction, which is subject to the approvals of the Swedish Competition Authority (Konkurrensverket) and the Swedish Medical Products Agency (Läkemedelsverket), values the company to SEK1,460m including an estimate of a conditional earn-out payment. The transaction is expected to be completed in the second quarter of 2013.
The Medstop pharmacy chain has a total of 65 pharmacies located in the Stockholm, Gothenburg and Malmö areas. In 2012, net sales were SEK2,300m and EBITDA SEK99m, excluding non-recurring items. Medstop’s share of the Swedish pharmacy market is 7.5 per cent.
The pharmacy chain has approximately 570 employees.
Following the acquisition, Oriola-KD will have some 300 pharmacies in Sweden and its share of the Swedish pharmacy retail market will increase from 14 per cent to approx. 21 per cent. The acquisition is expected to create synergies in purchasing, warehousing and pharmacy distribution.
Segulah IV acquired Medstop as a part of the privatization of the former pharmacy monopoly Apoteket AB in February 2010.

“We are very pleased with this transaction which will allow Medstop – with its excellent and well-managed pharmacies, systems and infrastructure – to grow and prosper with the support of the Nordic region’s largest fully integrated pharmaceutical distribution company. I am convinced that Oriola-KD will be a good, long-term owner,” says Peter Elving, chairman of Medstop and industrial partner in Segulah.

Like this article? Sign up to our free newsletter




Blackstone Private Equity