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MB Funds lead the acquisition of Medivire
(MB Funds 11.2.2000)
An investor group led by MB Funds acquired Medivire Occupational Health Services Ltd (in finnish: Medivire Työterveyspalvelut Oy) from the Finnish government. Net Sales of Medivire in 1999 were FIM 193 Million or € 32.5 Million and the company employed 500 people. Since its formation as a separate company in 1995, Medivire has become the leading occupational health services company in Finland and the only one with country-wide services offering.
The deal was signed on 4 th February, 2000, and closed on 11th February, 2000.
The deal was strucutred as a share deal and the purchase price was FIM 60 Million or € 10.6 Million. Total funding was FIM 80 Million or € 13.5 Million finance with equity and mezzanine.
The post-acquisition ownership structure of Medivire is following:
- MB Funds 44.7 % Il
- marinen 10.0 %
- Solidium 37.3 %
- Management 8.0 %
Ilmarinen is a mutual pension insurance company and Solidium is a government-owned investment company.
A mezzanine financing of FIM 20 Million or € 3.4 Million was provided by Leonia MB Group Oy.
Hannu Puhakka, Juhani Suomela and Kari Rytkönen of MB Funds were involved.
The advisors to equity were:
Legal: Jari Sonninen of Heikki Haapaniemi Oy
Finanacial: Kunto Pekkala of Tilintarkastajien
Oy Ernst & Young