Waterland PE backs Omega Pharma take-private

The take private was done through the Couckinvest holding. Couckinvest's shareholders are Alycho NV (49.54%), Holdco I BE NV (48.85%) and Omega Pharma's management (1.62%). Omega Pharma founder Marc Coucke controls Alycho, while Holdco I BE is controlled by Waterland Private Equity. Couckinvest now owns 97.1% of Omega Pharma.

Waterland invested from the Equity Fund V CV vehicle. Marc Coucke staged an MBO of the company in 1994.

The tender offer's initial acceptance period ran from 7 November to 20 December 2011, during which Couckinvest tendered 91.32% of the company's shares. The bid was reopened until 6 January 2012 and Couckinvest acquired Omega Pharma four days later.

Together with Omega Pharma's treasury shares, Couckinvest now owns 23,556,342 shares of the company, bought at €36 per share. This values the business at €848m.

The squeeze-out of the remaining shareholders will run until 3 February 2012.

Company
Omega Pharma is a Belgium-based pharmaceuticals company, specialising in over-the-counter healthcare products. The company was floated on Euronext Brussels in 1998. The latest figures released showed Omega Pharma recorded sales of €856.6m and an EBITDA of €136m. Omega Pharma employs 2,000 staff and is active in 35 countries.

People
Marc Coucke is founder and executive director of Omega Pharma.

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• Topics
• Benelux
• Healthcare
• Buyouts
• Euronext
• Belgium
• Waterland Private Equity