Clifford Chance advised SCA Group, Stockholm, Sweden, with a cross-border team on the takeover of medical solutions company BSN medical. The purchase price amounts to EUR 2.74 billion. The completion of the transaction is subject to customary regulatory approvals. Closing is expected to take place during the second quarter 2017.
SCA is a leading global hygiene and forest products company. The Group develops and produces sustainable personal care, tissue and forest products. Sales are conducted in about 100 countries under many strong brands, including the leading global brands TENA and Tork, and regional brands such as Lotus, Libero, Libresse and Tempo. The Group, founded in 1929, has about 44,000 employees. Sales in 2015 amounted to approximately EUR 12.3 billion. In 2015 Germany was the biggest market worldwide for SCA.
BSN medical develops, manufactures, markets and sells products within wound care, compression therapy and orthopedics. The company was established in 2001 as a joint venture of Beiersdorf and Smith & Nephew. Since 2012 BSN medical was owned by EQT VI. EQT is one of the leading Private Equity houses in Northern Europe.
BSN medical has approximately 6,100 employees. Reported net sales for year 2015 amounted to EUR 861 million (SEK 8,050 million) with an adjusted EBITDA of EUR 201 million. BSN medical is an innovative medical solutions company with well-known brands such as Leukoplast, Cutimed, JOBST, Delta Cast, Delta Lite and Actimove.
The Clifford Chance team was jointly led by partners Dr. Thomas Krecek (Frankfurt), Dr. Anselm Raddatz (Düsseldorf) and Steven Fox (London), coordinated by counsel Frederik Mühl (Frankfurt) and Nicholas Newman (London). The team also comprised Healthcare partner Dr. Ulrich Reese, counsel Dr. Gunnar Sachs and associates Carolin Kemmner and Lara Hönings (all Düsseldorf), Corporate associates Dr. Moritz Petersen (Frankfurt), Frederike Schlicht (Düsseldorf), Olivia Higgs (London), IP partner Stephen Reese and associate James Zheng Jeffries-Chung (both London) and senior associates Dr. Christopher Crützen and Anja Schwarz (both Düsseldorf) and Corporate/Employment counsel Dr. Ines Keitel, associate Dr. Christopher Fischer (both Frankfurt) and Francesca Baker (London), Litigation & Dispute Resolution senior associate Dr. David Pasewaldt (Frankfurt), Real Estate partner Dr. David Elshorst and senior associate Dr. Sebastian Schmitt (both Frankfurt) as well as Tax partner Dr. Felix Mühlhäuser (Frankfurt).
A number of other Clifford Chance offices also advised, including corporate partner Christian Kremer and associate Tim Doll (Luxembourg) and Paris with counsel Olivier Jouffroy and associate Thierry Diouf (all Corporate).
