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03/2016

DOC GENERICI acquired by CVC

ITALY Life Sciences / Pharma & Biotech / Generics / Labs EV 500M - 1.5b EUR

Context

CVC Capital Partners acquired 100% of DOC Generici from Charterhouse Capital Partners, outbidding other major PE firms like Blackstone in a competitive auction. The transaction was supported by a debt package provided by UniCredit and HSBC. The deal represented a highly successful exit for Charterhouse, which reportedly achieved an Internal Rate of Return (IRR) of 40% and a 2.7x money multiple on its 2013 investment. CVC's strategy for the investment was to leverage DOC's dominant market share and asset-light structure to drive organic growth as generic penetration in Italy continued to increase towards European averages.

It is worth noting that the fund Charterhouse took control of Doc Generici through an LBO in 2013.

DOC GENERICI, which reported an EBITDA margin of in 2015, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (14.3x).

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Target

DOC Generici is Italy's leading independent generic pharmaceutical company. It operates an asset-light model, focusing on the marketing and distribution of a vast portfolio of out-of-patent drugs across multiple therapeutic areas (cardiovascular, gastrointestinal, metabolic). It holds one of the largest market shares in the Italian retail pharmacy channel.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2015
2014

Other operations with DOC GENERICI

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
07/2022TPGDOC GENERICIITALYGenerics / Labs
04/2019ICG / MERIEUX EQUITY PARTNERSDOC GENERICIITALYGenerics / Labs
07/2013CHARTERHOUSEDOC GENERICIITALYGenerics / Labs

REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 100M - 200M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of DOC GENERICI by CVC are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: cvc