G Square sells Mikeva for €150m

The deal valued the business at €150m EV and will be financed primarily through credit facilities, the acquiring company said. As part of the deal, the London-based private equity firm fully exited the asset after a five-year holding period.

Previous funding
The GP acquired the business in an SBO from Intera Partners in August 2012. G Square acquired a controlling stake via its maiden fund G Square Capital I, which held a €209m final close in September 2011, while the management team retained the remaining holding.

During its ownership period, the GP supported the company through several bolt-on acquisitions. The business saw the number of care units under management grow from 59 at the time of the original acquisition to 122.

Intera had backed the MBO of Mikeva from its parent company Ruukki Group in June 2008.

Company
Founded in 1987 and headquartered in Vantaa, Finland, Mikeva currently manages 122 care clinics with an aggregate 2,800 beds and is active in social psychiatry and care for people with disabilities, as well as the elderly. The business has 2,300 employees and generated €101m in revenues with €5.3m in EBITDA in 2016, according to a statement.

People
Mikeva – Petri Pitkäranta (CEO).
Attendo – Henrik Borelius (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Healthcare
• Nordics
• Trade sale
• Finland
• G Square Capital