EQT (Private Equity) Sells BSN Medical to Svenska Cellulosa Aktiebolaget (SCA)


Sweden's Svenska Cellulosa Aktiebolaget (SCA), $12.3b global hygiene and forest products company, is buying BSN Medical GmbH, a Germany-based manufacturer of woundcare, noninvasive orthopedic  and compression therapy products. The deal weights SCA's business more toward healthcare.  BSN has a major share in several attractive medical product markets and provides SCA with a new growth platform with future industry consolidation opportunities.  About 85% of SCA's sales derives from its hygiene business and about 15% from forest products, which it intends to spinoff to shareholders.  Earlier, private equity firm EQT, which owns BSN, sought to have BSN go public, after talks with two bidders aborted. BSN was bought by EQT in 2012 for ~$1.9 billion and it has expanded the business through acquisitions as part of a buy-and-build strategy to boost BSN's operations in France, Brazil, South Africa and New Zealand and other markets.  Deal value -- $2.8b on sales of ~$874.0m (3.2x) and EBITDA of ~$210.0m (13.3x).


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