Nordic to acquire Prospitalia from Five Arrows

Prospitalia generates more than €30m in EBITDA, as previously reported by Mergermarket. It reported a €25.2m adjusted EBITDA on €62.4m in revenues in 2016, according to public filings.

Nordic Capital was competing with private equity firms Ardian, Cinven, Goldman Sachs Private Equity, Hg and TA Associates earlier in the sale.

Five Arrows, which had Baird and Rothschild acting as sell-side advisers, was looking to wrap up the deal quickly. The vendor is also likely to have approached strategic players, but the auction was expected to go down the LBO route because of strong PE interest, in contrast to a lack of logical strategic buyers, according to the Mergermarket report.

Five Arrows bought the company from Palamon Capital in 2014, when its EBITDA was approximately €16m.

Prospitalia is a procurement management and clinical solutions platform for acute, post-acute and other service providers and vendors in the healthcare sector. It works with customers such as hospitals and healthcare facilities to lower the cost of goods purchased. The group was founded in 1993 and has two main subsidiaries, Pro Care Management and Comparatio.

Nordic Capital, Five Arrows and Rothschild did not return requests for comment.

This article was originally published in Unquote sister publication Mergermarket

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• Topics
• Buyouts
• DACH
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• Germany
• Nordic Capital
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• Robert W. Baird