Deals in Focus

Deals in Focus | November 1st Edition
8th November 2019 Atheneum Team
8th November 2019

Key Atheneum Experts

Managing Director – Global Switch
CEO & Founder – PAIX Data Centres
CEO – Xtravirt LTD

Key Information

Data Centre and IT Services
HQ – UK
Operations – Europe

Pulsant is exploring a sale process run by Jeffries. The UK based company generates EBITDA somewhere between £25-30m and it is expected that a valuation could be in excess of £250m. The sale process has just started and is likely to be finished by Q4.

Key Atheneum Experts

Former Member of the Supervisory Board – d&b Audiotechnik
Former Senior Strategic Advisor – d&b Audiotechnik
Former VP Audio Solution Sales EMEA – Sennheiser

Key Information

Audio Solutions
HQ – Germany
Operations – Europe

Ardian is currently sourcing an adviser for the sale of d&b Audiotechnik in a deal that could value the target at more than €600m. The company could book roughly €45 – 50m in EBITDA this year.

Key Atheneum Experts

Former Associate Director Regulatory Affairs CMC – Covis Pharma
General Manager – Norgine
Former Head of Market Access – Norgine

Key Information

Pharmaceutical Company
HQ – Netherlands
Operations – Global

Cerberus Capital has retained an adviser to gauge a potential sale of Covis, which could be valued around €800m. The company has attracted the attention of other PE firms in recent years, and a formal sale process is anticipated to begin shortly.

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Key Atheneum Experts

Former Markting Director – Flint Group
Former Vice President Sheetfed & Global Strategy – Flint Group
Former Business Development Manager – Flint Group

Key Information

Flexible Packaging
HQ – Luxembourg
Operations – Europe

Sponsors Goldman Sachs and Koch Industries are looking at a disposal of Flint (Colour Oz’s best asset) to try and deal with their approaching maturities. The packaging division account of around 85% of Flint’s €315m EBITDA, and could fetch an 8x valuation.

Key Atheneum Experts

Former Head of Business Division – Agfa Healthcare
Former Country Solution Manager – Switzerland & Luxembourg – Agfa Healthcare
Former Delivery Director, Hospital & Clinical Information Systems (HCIS) – Agfa Healthcare

Key Information

Healthcare IT Division
HQ – Belgium
Operations – Europe

Afga-Gevaert has collected first round bids for around half of the IT division. The parts for sale comprise the Hospital IT and integrated Care solutions and imaging IT business. The assets being sold generate roughly €50m of EBITDA. It is reported that many trade and sponsors are looking at the asset.

Key Atheneum Experts

Former Chief Sales Officer – Waterlogic International 2016-2018
Group Marketing Director – Waterlogic 2007-2016
Former Group Chief Commercial Officer – Eden Springs

Key Information

Water Dispenser
HQ – United Kingdom
Operations – UK

Waterlogic Sponsor Castik Capital has hired Goldman Sachs to consider strategic options including a sale. The UK based designer, manufactuer, distributor and service provider of purified drinking water could fetch a valuation of £2bn.

To learn more please email: adam.jenkins@atheneum-partners.com