ICG, Ares and GBL among sponsors in Sanoptis second round

Sellside advisor Rothschild is expected to collect confirmatory bids for the today (14 April), one of the sources said, following first-round bids at the end of March, as reported.

BC Partners, which was reported as one of the initial bidders, did not make it through to the second round of the auction based on valuation, one of the sources said.

GBL is also among the final bidders for the pan-European radiology and outpatient company Affidea alongside Biogroup and Unilabs owned AP Moller, as reported.

Ares Management also already owns Groupe Point Vision, one ophthalmology asset in France, which it bought from Abenex in October 2021. The price tag was around EUR 250m, according to media reports.

Rothschild has been running a tight process on the auction as vendor Telemos Capital wants to remain invested as a minority sponsor, as reported.

The asset has been marketed off EUR 100m EBITDA with bids expected at a 15x multiple, similar to the price tag for pan-European ophthalmology chain Veonet, as reported.

Management wants to expand the group’s presence into France, Italy, Spain, and Austria both organically and by acquiring single ophthalmology practices, as reported.

GBL and Ares declined to comment. ICG, BC Partners, Rothschild and Telemos did not respond to a request for comment.

by Rachel Lewis and Claude Risner

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