UK-headquartered private equity firm Bridgepoint has sealed the first deal from its €4.8 billion fourth fund with the take-private of €312 million Finnish healthcare business Terveystalo Healthcare.
The tender offer of €2 per share in cash, which represented a 203 percent premium to the company's closing price on January 16, was accepted by holders of 95.7 percent of the company’s share capital.
As reported on PEO in January, the take-private is the first investment made from Bridgepoint Europe IV, which closed in October 2008. The fund follows its predecessors' strategy of targeting firms with enterprise values ranging from €200 million to €1 billion in the consumer, media and tech, healthcare, business services, industrials and financial service sectors.
Legal advisers to Bridgepoint on the Terveystalo deal were Roschier and Travers Smith. SEB Enskilda provided financial advice and Ernst & Young advised on financial due diligence and tax.