EQT has sold German wound care company BSN medical to Swedish pulp and paper company SCA for €2.74 billion after a four-year holding period.
“BSN has undergone a major change, and today has a global growth platform with a strong technological base.
BSN's medical expertise and SCA's leading position in incontinence products, and consumer and business-to-business focus complement each other well, both from a strategic and global perspective,” said Michael Bauer, a partner at EQT Partners.
The deal represents an exit for EQT VI, a €4.75 billion fund the firm closed in 2011. EQT said that since its 2012 €1.8 million acquisition, BSN's sales have increased by more than six percent annually, with the company now recording annual sales of €860 million.
The company recorded EBITDA of €201 million in 2015, and €151 million for the first nine months of 2016.
EQT funded a number of add-on acquisitions during its ownership and also installed a new chief executive, Guido Oelkers, who joined from US medtech company Gambro.
BSN estimates the market for its products will grow approximately four percent by 2020, driven by an ageing population and increased prevalence of chronic conditions.
The sale ends the company's 10-year period under private equity ownership, as it was bought out by Montagu Private Equity in 2006.
EQT is currently investing its seventh fund, a €6.75 billion vehicle it closed last year. Prior to this deal the firm's most recent healthcare activity was the $2.35 billion acquisition of patient satisfaction survey company Press Ganey in August.