FRANKFURT (Reuters) – Dutch medical supplier Mediq has been put up for sale by its private equity owner Advent in a potential 1.2 billion euro ($1.4 billion) deal, sources close to the matter said.
Advent, which is working with Rothschild ROTH.PA and HSBC HSBA.L on the sale, has organised management meetings for prospective buyers, which have been asked to hand in non-binding bids in the first week of November, they said.
Buyout groups such as CVC, Bain, BC Partners, Triton and Pamplona are expected to bid, they added.
Mediq, Advent, the banks and the prospective buyers declined to comment or were not immediately available for comment.
The firm is being marketed off full-year earnings before interest, tax, depreciation and amortization (EBITDA) of about 90 million euros, though some potential bidders are working with assumptions of core earnings closer to 70 million euros, the sources said.
Mediq, which supplies pharmaceuticals and