Steadfast Capital to buy W Söhngen
German GP Steadfast Capital has expressed its intention to wholly acquire first aid equipment manufacturer W Söhngen, according to a filing registered with the German competition authority on 21 May 2019.
The firm will use Steadfast Capital Fund IV for the investment, which held its final close on €297m in March 2019.
The fund invests in lower-mid-market companies with enterprise values of between €20-150m. Its focus is on companies it can expand through buy-and-build strategies using modest leverage of 3-4x EBITDA.
The company employs more than 130 people at its production plant in Taunusstein. It sells its product in Germany, Austria and Switzerland, and manufactures products in three verticals: wound care, first aid and emergency medicine.
Steadfast declined to comment at the time of publication.
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