Segulah Sells Medstop Group

Segulah IV is selling 100 percent of the shares in Medstop Group Holding AB to Oriola-KD Holding Sverige AB. The transaction is subject to the approvals of the Swedish Competition Authority and the Swedish Medical Products Agency and is expected to be completed in the second quarter of 2013.

PRESS RELEASE

Segulah IV L.P. has entered into an agreement to sell 100% of the shares in Medstop Group Holding AB to Oriola-KD Holding Sverige AB.
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 MSEK 1,460 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 MSEK 2,300 and EBITDA MSEK 99, excluding non-recurring items. Medstop’s share of the Swedish pharmacy market is 7.5%. 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% to approx. 21%. The acquisition is expected to create synergies in purchasing, warehousing and pharmacy distribution.
Segulah IV L.P. 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.
For further information visit www.segulah.se or contact: Peter Elving, Industrial Partner, Segulah Advisor AB
+46 70 520 09 27, E-mail: elving@segulah.se
Sebastian Ehrnrooth, Partner, Segulah Advisor AB +46 73 360 42 05, E-mail: ehrnrooth@segulah.se
Founded in 1994, Segulah is a private equity partnership focused on lower mid-market buyouts in the Nordic region with a business model of active ownership through its extensive network of industrial advisors. Segulah Advisor AB is the exclusive investment advisor to the Segulah II (MSEK 850), Segulah III (MSEK 2,356) and Segulah IV (MSEK 5,200) Limited Partnerships.
The funds’ current portfolio of companies includes: PMC Group (hydraulics and pneumatics), S:t Eriks (prefabricated concrete products), Kemetyl (car care, hygiene and industrial chemicals), Almondy (frozen cakes), Gunnebo Industries (lifting, fastening, traction products, blocks), Medstop (pharmacies), eTRAVELi (online travel agent), Scan Coin (cash handling equipment and service), Balco (balconies and balcony glazing systems) and CCS Healthcare (hygiene and personal care products). In addition, Segulah IV has recently acquired Beerenberg (maintenance services for the oil & gas industries).