mynth
05/2020100%LBO

Huntsworth acquired by Clayton, Dubilier & Rice (CD&R)

UNITED KINGDOM Healthcare Services EV £500M–1.5bn

Context

Clayton, Dubilier & Rice, LLC completed its acquisition of Huntsworth PLC on May 1, 2020. The strategic rationale centers on Huntsworth’s position as a leading pharma commercialization services platform, with a strong Health division contributing roughly 85% of the group’s operating profit. CD&R views the company’s underlying markets as attractive, underpinned by long‑term healthcare trends such as demographic shifts, rising drug innovation, increasing outsourcing of commercial and medical services, and the growing complexity of marketing and access channels for specialized therapies. The investment aligns with CD&R’s healthcare‑focused strategy and experience with similar hybrid healthcare‑services models, including its prior involvement with platforms comparable to Huntsworth through former executives such as Liam FitzGerald, an operating advisor who assumed the role of Chairman. From a value‑creation standpoint, the transaction allows Huntsworth to pursue accelerated organic growth and targeted acquisitions without the constraints of public‑market volatility, while CD&R aims to strengthen operational discipline, deepen sector penetration, and broaden the group’s service offerings.

Huntsworth, which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average observed in the Healthcare & Pharma sector (14.6x in 2020).

-> Deep-dive in Healthcare & Pharma market trends

Target

Huntsworth is an international healthcare and communications group headquartered in London, providing a broad portfolio of specialty services that support the commercialization and lifecycle management of pharmaceutical and biotechnology products. The group’s core focus is its Health division, which delivers medical affairs, market access, and integrated marketing and communications services to large and mid‑size pharma and biotech companies across the US and Europe. Over the past decade, Huntsworth has transformed from a traditional communications agency into a diversified pharma commercialization services platform, with around 85% of the group’s operating profit now generated by its Health business. The company operates through a global network of 46 offices in about 20 countries, employing approximately 2,000 people, and offers end‑to‑end support for product launches, stakeholder engagement, and ongoing commercial execution. Its Health segment includes medical communications, scientific and regulatory advisory, market access strategy, and tailored marketing campaigns, all designed to help clients navigate complex regulatory environments, build evidence‑based value propositions, and drive uptake of innovative therapies. This specialist positioning makes Huntsworth a preferred partner for companies developing increasingly sophisticated, high‑value drug portfolios.

Ent. Value

£500M–1.5bn

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2019
£250–500M
£25–50M
[members only]
2018
£250–500M
£25–50M
[members only]

Other operations with Clayton, Dubilier & Rice (CD&R)

Other operations with Clayton, Dubilier & Rice (CD&R)
DateAcquirerTargetCountrySector
04/2026CLAYTON, DUBILIER & RICE (CD&R)SEALED AIR CORPORATIONUNITED STATESPlastic Packaging
10/2024CLAYTON, DUBILIER & RICE (CD&R)OPELLAFRANCEGenerics / Labs
04/2024CLAYTON, DUBILIER & RICE (CD&R)PRESIDIOUNITED STATESConsulting & Integration
11/2023CLAYTON, DUBILIER & RICE (CD&R)VERITIV CORPORATIONUNITED STATESPackaging & Containers
02/2021CLAYTON, DUBILIER & RICE (CD&R)WOLSELEY UKUNITED KINGDOMIndustrial & Technical Distribution
12/2019CLAYTON, DUBILIER & RICE (CD&R)SOCOTECFRANCETIC (Testing, Inspection, Certification)

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REFERENCES

Valuation range: EV £500M–1.5bn

Revenue range: £250–500M

EBITDA range: £25–50M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Huntsworth by Clayton, Dubilier & Rice (CD&R) 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.

Press release: view release

Acquirer: clayton, dubilier & rice (cd&r)

FAQ

What transaction does this page cover?

This page covers Clayton, Dubilier & Rice’s acquisition of 100% of Huntsworth, a British company specialised in Healthcare Services, in 2020, structured as a leveraged buyout (LBO).

How was the acquisition of Huntsworth by Clayton, Dubilier & Rice valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the £500M–1.5bn band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Huntsworth’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Huntsworth generated annual revenue estimated in the £250–500M range and EBITDA in the £25–50M bracket (FY 2019). Detailed financial figures are available to members.

How does the valuation of Huntsworth compare to benchmarks in the Healthcare & Pharma sector?

With an estimated multiple range of 10x - 18x, the transaction stands directly in line with historical averages for the Healthcare & Pharma sector (14.6x in 2020).

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

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