Advent, Carlyle in Running for Ameos

Advent International and Carlyle Group are the last two remaining bidders for Swiss-German private hospital operator Ameos, Reuters reported Friday. CVC Capital has pulled out of the auction process. Fully funded final bids are due at the end of September, Reuters wrote. Ameos, formed in 2002, operates around 48 private hospitals and psychiatric clinics at 24 locations in Germany.

(Reuters) – Private equity firms Advent International and Carlyle Group are the last two remaining bidders for Swiss-German private hospital operator Ameos, sources closed to the deal said on Friday.

CVC Capital Partners, previously interested in bidding for the group, has pulled out of the auction process, the sources said.

Owner Quadriga Capital, the Germany-based private equity firm, is now expecting fully funded final bids for the business by the end of September, the sources said. Commerzbank has been coordinating the sales process.

Advent and Carlyle declined to comment, while Quadriga Capital could not be reached for comment.

A club of banks are working on arranging senior loans for the potential leveraged buyout, with the debt expected to amount to around 4 times the company’s 45-50 million euros ($62-469 million) earnings before interest tax depreciation and amortisation (EBITDA).

Headquartered in Zurich, Ameos was founded in 2002 by Axel Paeger and Martin Kerres and operates around 48 private hospitals and psychiatric clinics at 24 locations in Germany.

Ameos said in July it was looking into a potential capital increase to further grow the business. ($1 = 0.722 euro) (Editing by Dan Lalor)