Nordic Capital leading Wendel in potential €1.2bn LTS Lohmann buyout


LTS patchEuropean private equity major Nordic Capital is reportedly leading the race for German medical patch maker LTS Lohmann Therapie-Systeme for around €1.2bn.

The buyout could be sealed within the next month according to Bloomberg, which said French investment firm Wendel was also in the hunt for the company.

It added that the sale process had been drawn out because LTS’ three owners had struggled to agree on a price at which they were prepared to sell the business.

LTS, which employs more than 1,100 people, makes transdermal therapeutic systems and oral thin films.

Nordic Capital held a €3.5bn final close for its latest buyout fund last December after more than 18 months in the fundraising market.

Nordic undeerwent a rocky fundraising for Fund VIII, which was initially targeting €4bn before being scaled back to €3bn in October last year.

But a strong first close on €1.7bn in February 2013 sparked a flurry of interest in the vehicle, leading it to its €3.5bn hard cap as investor demand exceeded the new target by almost 30 per cent.

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