mynth
08/2023

SCHÜLKE

Acquired by

ATHOS CONSORTIUM

GERMANY Life Sciences / Medical Devices / Medical Consumables EV 1b - 4b EUR

Context

EQT Private Equity has agreed to sell 100% of Schülke to a consortium led by ATHOS, following a highly successful three-year transformation period. EQT originally acquired the company in a 2020 carve-out from Air Liquide for approximately €1.0 billion. During its ownership, EQT repositioned Schülke as a pure-play healthcare leader, executing five add-on acquisitions and divesting the personal care division. This strategic focus resulted in double-digit annual revenue growth and a near doubling of EBITDA in the core healthcare segment. The sale to the ATHOS Consortium represents a transition from institutional private equity to long-term family office ownership, aligning with Schülke’s 135-year heritage and its mission to protect lives worldwide.

SCHÜLKE, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Healthcare & Pharma sector (13.4x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Founded in 1889, Schülke is a global leader in infection prevention and treatment solutions for the healthcare and life sciences industries. Headquartered in Norderstedt, the company specializes in high-quality disinfectants, antisepsis products, and wound care solutions, featuring iconic brands such as octenisept, kodan, and desderman. Its business model focuses on mission-critical hygiene for hospitals, pharmacies, and direct patient care channels. Under recent private equity ownership, the company underwent a major strategic repositioning to exit non-core personal care segments and focus entirely on healthcare. Schülke operates three production sites in Germany, France, and Brazil, and maintains market-leading positions in Central and Eastern Europe, Australia, and Brazil.

Ent. Value

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Equity Value

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Multiples

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

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2023
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2022
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Other operations with SCHÜLKE

DateAcquirerTargetCountrySectorDeal Context
SCHÜLKEGERMANYLife Sciences

Founded in 1889, Schülke is a global leader in infection prevention and treatment solutions for the healthcare and life sciences industries. Headquartered in Norderstedt, the company specializes in high-quality disinfectants, antisepsis products, and wound care solutions, featuring iconic brands such as octenisept, kodan, and desderman. Its business model focuses on mission-critical hygiene for hospitals, pharmacies, and direct patient care channels. Under recent private equity ownership, the company underwent a major strategic repositioning to exit non-core personal care segments and focus entirely on healthcare. Schülke operates three production sites in Germany, France, and Brazil, and maintains market-leading positions in Central and Eastern Europe, Australia, and Brazil.

REFERENCES

Valuation range: EV 1b - 4b EUR

EBITDA range: 100M - 200M EUR

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

Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: schülke