Portfolio company news

All Group media enquiries should be directed to
Vanessa Maydon, Corporate Affairs Director.

Cinven Partners LLP
Warwick Court
Paternoster Square
London EC4M 7AG

 

Tel: +44 (0)20 7661 3325
Mob: +44 (0)7802 961 902
Email: Vanessa Maydon

Press releases

Phadia
23 August 2011

Cinven completes sale of Phadia to Thermo Fisher

European private equity firm, Cinven, today announces the completion of the sale of Phadia Group, the leading in-vitro allergy diagnostics company based in Uppsala (Sweden), to Thermo Fisher Scientific Inc.

Cinven announced the agreement to sell Phadia Group in May 2011 for an enterprise value of €2.47 billion. Cinven's Healthcare team led the acquisition of Phadia in early 2007 for an enterprise value of €1.285 billion. The sale of Phadia will return a 3.4x multiple to its fund, representing a capital gain of around €1bn. This marks the successful execution of the investment thesis pursued by Cinven and management, which resulted in the globalisation of the business, doubling of the company's revenue growth rate, and a substantial increase in employment in the group following sustained investment in salesforce and product development.