M&A Deal Summary

EQT and ADIA Acquire Dechra Pharmaceuticals

On July 20, 2023, private equity firm EQT and sovereign wealth fund ADIA acquired life science company Dechra Pharmaceuticals for 4.5B GBP

Acquisition Highlights
  • This is EQT’s 13th and ADIA’s 1st transaction in the Life Science sector.
  • This is EQT’s 3rd and ADIA’s 2nd largest (disclosed) transaction.
  • This is EQT’s 15th and ADIA’s 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2023-07-20
Target Dechra Pharmaceuticals
Sector Life Science
Buyer(s) EQT
ADIA
Deal Type Going Private
Deal Value 4.5B GBP

Target

Dechra Pharmaceuticals

Northwich, United Kingdom
Dechra Pharmaceuticals is an international specialist in veterinary pharmaceuticals and related products business. Its expertise is in the development, manufacturing, sales, and marketing of quality products exclusively for veterinarians worldwide. The company's business is unique as the majority of its products are used to treat medical conditions for which there is no other effective solution or have a clinical or dosing advantage over competitor products. Dechra Pharmaceuticals was founded in 1997 and is based in Northwich, United Kingdom.

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Buyer(S) 2

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 287 of 312
Sector (Life Science) 13 of 14
Type (Going Private) 18 of 22
Country (United Kingdom) 15 of 17
Year (2023) 8 of 15
Size (of disclosed) 3 of 46
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-28 Kodiak Gas

The Woodlands, Texas, United States

Kodiak is the largest privately-owned contract compression company in the US. The company currently operates in the Permian, Eagle Ford, and Scoop/Stack basins with over 2.8 million in revenue-generating horsepower. Kodiak’s business model is built on compression and service contracts with fixed monthly fees and no volume-dependent components, bringing predictable and recurring revenues. Kodiak Gas was founded in 2011 and is based in The Woodlands, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-07 Schülke

Norderstedt, Germany

Schülke develops, produces, and distributes antiseptics for wound care, disinfectants, medical and cosmetic skin care products, and preservatives. The company offers its customers innovative products, technologies, and services in its core business fields: healthcare, industrial hygiene, and personal care. Schülke was formed in 1889 and is based in Norderstedt, Germany.

Sell -
Buyer

ADIA

Category Sovereign Wealth Fund
Founded 1976
PE ASSETS 875.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 12 of 12
Sector (Life Science) 1 of 1
Type (Going Private) 2 of 2
Country (United Kingdom) 2 of 2
Year (2023) 2 of 2
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-14 Univar

Downers Grove, Illinois, United States

Univar Solutions is a global chemical and ingredient distributor and a provider of value-added services to customers across a wide range of industries. Univar was founded in 1924 and is based in Downers Grove, Illinois.

Buy $8.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-22 Galderma

Zug, Switzerland

Galderma is a global skincare company offering medical and consumer skin health solutions through three business units; aesthetics and prescription and consumer health. Galderma was founded in 1981 and is based in Zug, Switzerland.

Sell -
Mergr

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