Vitruvian buys Doctari

The GP drew equity for the transaction from Vitruvian Partnership III, a €2.4bn buyout fund that held a final close on its hard-cap in June 2017.

Founders Christoph Siegmann, Stefan Scherf and Frits Häcker will retain a significant minority stake in the company.

Doctari hired Double Digit to advise on the sale, which marketed the company based on projected EBITDA of €17m from €96.5m in sales for 2018, according to Unquote sister publication Mergermarket.

The company generated EBITDA of €11m from €65.5m in sales in 2017, according to publicly available documents.

Company
Doctari was founded in Hamburg in 2011 and is headquartered in Berlin. The company provides short-term staffing solutions to the healthcare industry, with a network of 15,000 medical staff and 5,000 institutions. Doctari employs 100 people in its three locations and generated sales of €65.5m in 2017.

People
Doctari – Christoph Siegmann, Stefan Scherf, Frits Häcker (co-founders).

Advisers
Equity – GCA Altium (corporate finance, debt advisory); EY-Parthenon (commercial due diligence); EY (financial due diligence); Bird & Bird (legal); PwC (tax); Bearing Point (IT due diligence).
Vendor – Double Digit (corporate finance): PwC (commercial due diligence, financial due diligence); Lacore (legal).

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• Topics
• Buyouts
• Support services
• DACH
• Healthcare
• Germany
• Vitruvian Partners