The Bolt-Ons Digest – 23 May 2022

Healthcare

Nordic Capital’s Advanz Pharma, a British specialty pharmaceuticals company, has acquired Intercept’s non-American assets including Europe for USD 405m. The deal includes the ex-US rights to commercialise Ocaliva, which treats autoimmune disease primary biliary cholangitis. The sponsor said the deal will double Advanz’s commercial and medical teams. Nordic bought Advanz Pharma in a take-private deal in June 2021 via Nordic Capital Fund X.

H2 Equity Partners’ Optegra, a British cataract treatment specialist, has acquired Vidium Medica, a Polish peer in vision correction and cataracts. H2 acquired Optegra in November 2020 via H2 Equity Partners Fund V. The GP has started considering an exit following a jump in profits, as reported last month by Unquote’s sister publication Mergermarket.

Nord Holding’s Ohrwerk, a German hearing care clinic chain, has acquired local peer Hörsysteme Häusler to bring its total shops to 70. Nord Holding acquired Ohrwerk in September 2020 under a buy-and-build strategy.

Litorina’s Physical Medicine Group, a Norwegian chain of physiotherapy clinics, has acquired Eureka, which has 14 clinics across Norway and Sweden. The group now has 112 clinics and performs 700,000 treatments annually. Litorinia acquired PMG in January 2020 via Litorina V.

Gilde Healthcare’s Synexa Life Sciences, a Dutch biotech company specialising in biomarkers, has acquired Syrinx Bioanalytics, a Finnish peer strong in targeted radiopharmaceuticals. Gilde Healthcare acquired Synexa in July 2019.

Business support services

Sovereign Capital Partners’ Zenitech, a UK-based technology consultancy, has acquired Autsoft, a Hungarian provider of software and technology development services, to build on its organic CEE growth. Sovereign acquired Zenitech in November 2020 via Sovereign Capital IV.

Palatine’s Construction Testing Solutions (CTS), a UK-based construction consultancy, has acquired local peer GT Certification. The bolt-on is the seventh under the GP’s ownership and follows a refinancing in late 2021. Palatine acquired CTS in November 2018 via Palatine Private Equity Fund III.

Media

Carlyle’s Dept, a Dutch digital agency, has acquired Dogstudio, a US-based agency that focuses on immersive digital and physical experiences. It is the fifth-bolt on for Dept in the past six months. Carlyle acquired Dept in December 2019 via Carlyle Europe Technology Partners IV.

Bain Capital’s Kantar, a UK-based data research company, has acquired Qmee, a local app-based survey platform, from private equity firm Capital D. It will become part of Kantar’s Profiles Division. Bain acquired Kantar in July 2019 and recently sold its policy advisory arm to Triatlantic.

Equistone’s Adm Group, a British marketing agency, has acquired Lapine and Effectus, American companies focused on consumer engagement and business strategy consulting. The two targets will have a combined revenue of USD 130m in 2022 to add to Adm’s EUR 230m (2021). Equistone acquired Adm Group in October 2021 via Equistone Partners Europe Fund VI.

Stirling Square’s Médisup Sciences, a French medical education company, has acquired Take The Wind, a Portuguese provider of virtual medical simulation that has Body Interact as its main brand. Stirling acquired Médisup Sciences in March 2021 via Stirling Square Capital Partners IV.

Technology

Perwyn’s Miss Group, a Stockholm website hosting company, has acquired Cloudnet, a local peer specialised in Linux, to add around EUR 2.3m to the buyer’s EUR 66m revenue. Cloudnet is Miss Group’s tenth bolt-on under the sponsor’s ownership Perwyn acquired Miss Group in February 2020.

MidEuropa Partners’ Symfonia, a Polish provider of SME accounting software, has acquired HRtec, a local provider of HR management software, the group’s third bolt-on. MidEuropa acquired Symfonia in March 2021 in a carve-out from Sage Group via MidEuropa V.

Consumer

Waterland’s RUF Group, a German supplier of premium beds, has acquired LS Bedding, a Belgian premium bedding manufacturer, from Dovesco as part of a new buy-and-build to build an umbrella of bedding brands across Europe. Waterland acquired the brands RUF|Betten and BRUNO in January 2022 via Waterland Private Equity Fund VIII.

Industrials

DBAG’s Dantherm, a Danish climate controls solutions provider, has acquired Trotec, a German provider of mobile and fixed air conditioners. Together the two companies will generate sales of around EUR 360m. DBAG acquired Dantherm in August 2021 via DBAG Fund VIII.

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

• Topics
• Buyouts
• GPs
• Carlyle Group
• Sovereign Capital
• Nordic Capital
• Waterland Private Equity
• Mid Europa Partners
• Stirling Square Capital Partners
• Equistone Partners Europe
• Bain Capital
• Palatine Private Equity
• Gilde Buy Out Partners
• Litorina
• Nord Holding
• H2 Equity Partners