US investment giant to take London-listed UDG Healthcare private in £2.6bn deal
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UDG Healthcare, the Dublin-based health services group, is set to go private after a subsidiary of US private equity giant Clayton, Dubilier & Rice made a £2.6bn cash offer to buy the firm.
Nenelite, an Ireland-based affiliate of Clayton, Dubilier & Rice, today announced the proposed deal, which is subject to shareholder approval and is expected to complete in the third quarter of this year.
The proposed acquisition values the entire issued and to be issued share capital of UDG at around £2.6bn, and implies an enterprise value of £2.8bn.
Eric Rouzier, CD&R partner, said: “UDG has long established itself as a leading provider of high-value services to Pharma and Biotech companies globally, supported by a highly skilled workforce.
“CD&R has a strong record in partnering with management teams and we look forward to working with the UDG team to build on their success and help accelerate UDG’s growth and the development of its services offering to clients.”