Avista exits Trimb in SEK 3.4bn deal

The transaction will be financed through new credit facilities and a bridge loan facility provided by SEB and Swedbank. Karo plans to repay the bridge loan facility with proceeds from a new share issue of approximately SEK 1.5bn.

The companies expect to realise sales and cost synergies in the region of SEK 50m in 2021. They have complementary geographical presences, distribution channels and product offerings.

Trimb generated adjusted sales of SEK 930m and an adjusted EBITDA of SEK 150m in 2018, according to a statement.

Previous funding
In 2015, Avista led a growth investment in the company. The company's founders, management and existing shareholder HealthCap also provided funding.

Company
Founded in 2012, Trimb is based in Stockholm and employs 90 people. The company sells over-the-counter pharmaceuticals and consumer healthcare products, with a focus on skin, foot and oral care and intimate healthcare.

People
Karo Pharma – Christoffer Lorenzen (CEO)
Trimb Holding – Magnus Nylén (CEO).

Advisers
Acquirer – SEB (corporate finance); White & Case (legal).
Vendor – Rothschild (corporate finance); Ropes & Gray (legal).

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• Topics
• Exits
• Nordics
• Healthcare
• Sweden
• Trade sale
• SEB
• White & Case
• Ropes & Gray
• Rothschild