Ratos acquires remaining stake in TFS for €11m

The transaction comes around three and a half years after the GP acquired a 60% shareholding in the company from founder and former owner Daniel Spasic in a deal that gave the business an enterprise value of €47m. Spasic retained the aforementioned 40% stake in the company following the original deal.

In the year ending in September 2018, TFS generated a turnover of €85.1m, according to a statement, up from €49m in the 12-month period prior to Ratos's acquisition.

A year after Ratos first invested in the company, TFS acquired German dermatology business SCIderm.

Company
Founded in Lund in 1996, TFS is a contract research organisation that operates clinical trials for biotech, pharma and medical device companies. The company has a headcount of 650.

People
Ratos – Johan Rydmark (director).

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