Nordic buyout firm Segulah has agreed to sell portfolio business Medstop Group Holding to Oriola-KD Holding Sverige AB, valuing it at SEK1.46bn ($226.7m).
The business, which has 65 pharmacies across Sweden, posted EBITDA of SEK99m on sales of SEK2.3bn in 2012. Its share of the Swedish pharmacy market is currently 7.5 per cent.
Segulah acquired Medstop as part of the privatization of the former pharmacy monopoly Apoteket AB in 2010.
Peter Elving, Segulah industrial partner, said, “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.”
Back in January Segulah-backed concrete products maker S:t Eriks bought granite and natural stone supplier Stenia.
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