Ardian to acquire Sintetica

The process kicked off early in October with Rothschild as sell-side adviser.

Final details of the deal are being firmed up, the sources said, explaining that within 10 days, the parties should have cleared up any issues to finalise the transaction.

NCTM is advising Sintetica and Gianni Origoni Grippo is advising Ardian on legal matters.

Sintetica, Ardian and Gianni Origoni Grippo did not return requests for comment. NCTM and Rothschild declined to comment.

The transaction involves a sale of the whole business, said the first source.

Neither of the two sources was able to provide a potential deal value. However, the company could be sold for a double-digit valuation on the basis of a €22m EBITDA for 2017 and ambitious growth projections, as previously reported by Mergermarket.

Founded in 1921 by a pool of entrepreneurs, Sintetica distributes injectable anesthetics and analgesics. In 2018, the company recorded revenue of approximately €60m.

Initially, both Charterhouse and PAI-backed Ethypharm, a French speciality pharmaceuticals company, submitted offers.

Sintetica is based in Mendrisio and has an overall workforce of approximately 300, of whom 130 are based in Italian-speaking Canton Ticino.

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• Topics
• Buyouts
• DACH
• Healthcare
• healthcare
• Switzerland
• Ardian (formerly Axa PE)
• Rothschild