Mid Europa sells Walmark to PE-backed Stada

Unquote understands that the deal gives the company an EV of €100-200m.

Mid Europa Partners initially bought a 50% stake in Walmark from the Walach family in 2012 via its Mid Europa Partners III fund. Subsequently, the GP increased its stake to 100% in October 2015, acquiring the remaining shares from the company's founding family.

Under Mid Europa's ownership, Walmark boosted its growth and acquired Pneumolan, a Polish manufacturer of respiratory ailment products, in June 2015; and Czech bottled probiotics producer Valosun in October 2015.

Strong intends to integrate Walmark's manufacturing facility located in Trinec into its global production network. The group expects to boost its growth into central Europe – especially in the Czech Republic, Slovakia, Romania, Bulgaria and Hungary – broaden its portfolio of branded consumer health products and further internationalise its overall business.

Bain Capital and Cinven Partners jointly acquired a 63% stake in Stada in August 2017 at €66.25 per share, in a deal that gave the company an EV of €4.1bn. Subsequently, they made an offer of €81.83 per share to the remaining shareholders in October 2018, with plans to de-list the business.

Headquartered in Bad Vilbel, Germany, Stada specialises in specialty pharmaceuticals and non-prescription consumer health products. It sells its products in 120 countries and generated EBITDA of €503.5m from revenues of €2.3bn in 2018.

Company
Established in 1990 and based in Třinec, Walmark is a manufacturer of dietary supplements, vitamins, mineral products and supplements dedicated to improving urinary tract, respiratory and intestinal dysfunctions. The company employs 540 staff, sells its products in 40 countries worldwide and has a direct presence in nine countries across Europe.

People
Mid Europa Partners – Matthew Strassberg (co-managing partner); Viktoria Habanova (principal).
Walmark – Miro Slezak (CEO).
Stada – Peter Goldschmidt (CEO).

Advisers
Vendor – Rothschild & Co (corporate finance); Weil Gotshal & Manges (legal); White & Case (legal); PwC (financial due diligence); Boston Consulting Group (operational due diligence).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Portfolio management
• CEE
• DACH
• Healthcare
• Consumer
• Bain Capital
• Cinven
• Czech Republic
• Germany
• Build-up
• Trade sale