SWEDEN - Bids come in for Apax's wound care company

Apax is also rumoured to be considering a flotation of Mölnlycke, an exit its previous owner, Nordic Capital, announced in 2001 that it planned to complete two years later.

In April 2005, Apax Partners signed an agreement to acquire Mölnlycke from Nordic Capital. The transaction was believed to be worth around EUR 1bn. Barclays Capital and Deutsche Bank provided debt to support the buyout.

If Apax sells Mölnlycke to a private equity house, the deal could represent the second tertiary buyout in the Nordics. Nordic Capital's buy-back of Nycomed in 2005 is believed to have been the first tertiary buyout in the region.

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