M&A Deal Summary

Philip Morris International Acquires Fertin

On July 1, 2021, Philip Morris International acquired life science company Fertin from EQT and Bagger-Sorensen Group for 5.1B DKK

Acquisition Highlights
  • This is Philip Morris International’s 1st transaction in the Life Science sector.
  • This is Philip Morris International’s 3rd largest (disclosed) transaction.
  • This is Philip Morris International’s 1st transaction in Denmark.

M&A Deal Summary
Date 2021-07-01
Target Fertin
Sector Life Science
Buyer(s) Philip Morris International
Sellers(s) EQT
Bagger-Sorensen Group
Deal Type Add-on Acquisition
Deal Value 5.1B DKK

Target

Fertin

Vejle, Denmark
Fertin develops and manufactures pharmaceutical and nutraceutical products for leading global companies to support healthier living. Fertin’s product portfolio has a broad variety of current and possible application areas including Nicotine Replacement Therapy, oral care, gastrointestinal, pain and allergy management, cough and cold, and much more. Fertin was founded in 1915 and is based in Vejle, Denmark.

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Buyer(S) 1

Buyer

Philip Morris International

Stamford, Connecticut, United States
Category Company
Founded 1987
Sector Consumer Products
Employees82,700
Revenue 35.2B USD (2023)
DESCRIPTION

Philip Morris International is a cigarette and tobacco company. Phillip Morris sells products in over 200 countries. Philip Morris International was founded in 1987 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 4 of 8
Sector (Life Science) 1 of 3
Type (Add-on Acquisition) 4 of 7
Country (Denmark) 1 of 1
Year (2021) 1 of 3
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-26 Nicocigs

Birmingham, United Kingdom

Nicocigs Ltd. is a suppliers of electronic cigarettes and eliquids.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-09 Vectura

Chippenham, United Kingdom

Vectura is a provider of innovative inhaled drug delivery solutions that enable partners to bring their medicines to patients. The company has thirteen key inhaled and eleven non inhaled products marketed by major global pharmaceutical partners and a diverse portfolio of partnerships for drugs in clinical development. Vectura was founded in 1997 and is based in Chippenham, United Kingdom.

Buy £852M

Seller(S) 2

SELLER

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 145 of 186
Sector (Life Science) 4 of 7
Type (Add-on Acquisition) 58 of 72
Country (Denmark) 20 of 22
Year (2021) 8 of 22
Size (of disclosed) 23 of 42
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-28 Magnit

Folsom, California, United States

Magnit is a provider of contingent workforce management solutions through a managed services program (“MSP”) and cloud-based vendor management software (“VMS”). Magnit was founded in 1991 and is based in Folsom, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-02 Iver

Stockholm, Sweden

Iver is a Swedish managed IT services provider with capabilities for full IT outsourcing, providing their clients with contracted services, including hosting, cloud, and application management. Iver has managed to build strong customer relationships in Sweden and Norway by combining dedicated customer focus with high-quality IT solutions. Iver was formed in 2018 and is based in Stockholm, Sweden.

Sell -
SELLER

Bagger-Sorensen Group

Vejle, Denmark
Category Company
Founded 1915
Sector Consumer Products
DESCRIPTION

Bagger-Sorensen specialize in the research, development, and manufacturing of pharmaceutical chewing gum products. The Bagger-Sørensen family founded Vejle Caramel og Tablet Fabrik in 1915 and launched the Dandy chewing gum brand in 1939.

DEAL STATS #
Overall 2 of 2
Sector (Life Science) 2 of 2
Type (Add-on Acquisition) 1 of 1
Country (Denmark) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-07 Fertin

Vejle, Denmark

Fertin develops and manufactures pharmaceutical and nutraceutical products for leading global companies to support healthier living. Fertin’s product portfolio has a broad variety of current and possible application areas including Nicotine Replacement Therapy, oral care, gastrointestinal, pain and allergy management, cough and cold, and much more. Fertin was founded in 1915 and is based in Vejle, Denmark.

Sell -
Mergr

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