Sale of EQT-owned Fertin Pharma to launch in Q1 2021

The GP in late August mandated FIH Partners to advise on the process, while Accura has been mandated as legal adviser, a source told the publication.

The GP is reportedly aiming to close the deal before H2 2021.

Fertin posted a full-year 2019 EBITDA of DKK 256m from revenues of DKK 956m, according to its financial report, up from DKK 180m and DKK 816m, respectively, the year before.

One source told Mergermarket that the current EV is around DKK 4bn (€521.3m), while another source, a sector adviser, said it is expected to be around DKK 5bn. 

The GP acquired Fertin in December 2016 from Bagger-Sorensen Group, paying an estimated consideration of DKK 2.8bn, according to Mergermarket data. This corresponded to multiples of 3.5x revenue and 16.7x EBITDA.

Fertin develops and manufactures oral and intra-oral medicated chewing gum products, primarily as nicotine-replacement therapy. It also develops chewing gum with different active pharmaceutical ingredients, as well as nutraceutical chewing gum products, according to its website.

Fertin has more than 800 employees in Canada, Denmark and India, according to its website.

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