Bain, CD&R, CapVest and Triton in €1 bn bidding war for Dutch healthcare firm Mediq

Private equity group Advent has shortlisted four prospective buyers in the sale of its Dutch medical supplier Mediq, which could fetch more than 1 billion euros (890.8 million pounds), sources close to the matter said.

Buyout groups Bain, CD&R, CapVest and Triton have proceeded to the second round of bidding, they said, adding that final offers were due in early December.

Advent and the prospective buyers declined to comment or were not immediately available for comment.Advent and the prospective buyers declined to comment or were not immediately available for comment.

Mediq is being marketed on the basis of full-year earnings before interest, tax, depreciation and amortization (EBITDA) of up to 106 million euros ($125 million), though some potential bidders are working on assumptions of core earnings closer to 70 million euros, the sources said.

Mediq, which supplies pharmaceuticals and medical gear to clinics and patients, is expected to be valued at 12-13 times its estimated core earnings, they said.Mediq, which supplies pharmaceuticals and medical gear to clinics and patients, is expected to be valued at 12-13 times its estimated core earnings, they said.

Advent took Mediq private in 2013 for 819 million euros and has since strengthened the company through a string of acquisitions, such as that of Britain’s H&R Healthcare and Norway’s Puls AS.

Source: Reuters