About the Client

  • A private equity firm, headquartered in UK, focuses on Europe-based companies that require an equity investment of >€100mn
  • Sector focus: Business Services, Consumer, Financial Services, Healthcare, Industrials, and Technology, Media and TMT

Business Need

  • Identify potential acquisition targets for investment:
    • Sector: Healthcare
    • Firm type: Private and public
    • Target size: Public Targets: EV: €300mn to €5bn | EBITDA: €40mn+; Private Targets: Revenue: >€40mn | Employee count: >250
    • Geographic focus: HQ in N.America (US & Canada) and Europe

Approach and Methodology

  • Considering the vastness of the healthcare sector, identified relevant segments based on size, expected growth rates, degree of consolidation and PE buzz. The lucrative segment identified was ‘Ophthalmic and Optical Technology’
  • For the shortlisted segment, built a comprehensive list of private companies leveraging databases, associations, exhibitions/ conferences, news aggregators, news portals and social media
  • Percentile ranked public targets based on six key financial KPIs and calculated weighted average scores (0-10) to measure relative attractiveness
  • Screened private and public targets on investment triggers such as presence in growth segments, product pre-commercialistion buzz, stated expansion plans, recognition, partnership and M&A, management change, etc.
  • Shortlisted 44 targets (32 private and 12 public) and created investment thesis for client’s internal evaluation

Business Outcomes

  • 26% increase in number of potential targets identified
  • Assistance in raising funds to the tune of €7bn+
  • 1000+ person hours saved in deal origination
  • 44 investment gems identified from a list of 1000+ companies

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