NEW YORK and STOCKHOLM, June 25, 2019 /PRNewswire/ — Avista Capital Partners (“Avista”), a leading private equity firm focused on growth-oriented healthcare businesses, announced the signing of a definitive agreement whereby Karo Pharma AB (publ) (“Karo Pharma”), a specialty pharma company, will acquire Trimb Healthcare (“Trimb”) for SEK 3.4 billion. The transaction is subject to customary competition authority review and is expected to close later this year.
Founded in 2012, Trimb is a leading consumer healthcare company based in Stockholm with approximately 90 employees. Trimb owns licenses to, markets and sells a large number of over-the-counter pharmaceuticals and consumer healthcare products. Trimb has a portfolio of leading brands focused on skin care, foot care, oral care and intimate health categories. Over the last five years, under Avista’s ownership, Trimb has completed several strategic acquisitions and executed a number of organic growth initiatives.
Thompson Dean, Co-CEO and Co-Managing Partner of Avista Capital Partners, said: “We congratulate and thank the entire Trimb team for a successful partnership. We are proud of the growth that the company has achieved since our investment in 2015 and wish Trimb continued success.”
Christoffer Lorenzen, Karo Pharma’s newly appointed CEO as of July 1, 2019, said: “Trimb is a distinguished company within the over-the-counter pharmaceuticals and consumer healthcare segment. Over the past several years, in partnership with Avista, Trimb has successfully built a Nordic business and a growing presence in Northern Europe. Trimb complements Karo Pharma well, both in terms of geographical presence, distribution channels and product offerings. We look forward to continuing this journey as a combined company.”
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Magnus Nylén, CEO of Trimb, added: “Trimb has become a leading consumer healthcare company in Northern Europe, and we are proud of the growth we have achieved since our founding. We have had a strong partnership with Avista, as they shared and supported our vision. We look forward to continuing our successful growth journey in partnership with Karo Pharma.”
Advisors
Rothschild & Co and Ropes & Gray acted as advisors to Avista Capital Partners and other shareholders. SEB Corporate Finance and White & Case acted as advisors to Karo Pharma.
Date: July 01, 2019
SOURCE: Karo Pharma
