Permira early strong contender in Triton-backed Pharmanovia auction

Initial bids for the business were due last week, said one of the sources.

Permira already owns Neuraxpharm, a specialty pharma company focused on the treatment of the central nervous system (CNS), which it acquired in September 2020. The sponsor's website describes specialty pharma as one of its core areas of interest within the healthcare sector.

The deal has been one of the most anticipated large-cap healthcare auctions, with others including BC Partners-owned VetPartners and Nordic Capital's European Dental Group either receiving bids below expectations or not advancing, as reported.   

Triton mandated Morgan Stanley and Jefferies to oversee an exit earlier this year, as reported, with the company long-tipped as a 2023 sale candidate. The deal could be valued in the EUR 2.5bn-EUR 3bn range, as reported by this news service.  

The company has an EBITDA range of GBP 160m-GBP 200m, as reported.  

Triton, Morgan Stanley, Jefferies and Permira declined to comment.