Mentha Capital, an independent private equity firm in the Benelux, is proud to announce its third exit in 2011 with the sale of PBG-group to Mediq. Earlier this year Mentha has successfully sold its stakes in Quaron and Union. PBG trades and directly sells medical supplies to diabetic patients, general practitioners, midwives and other care-providers. PBG employs 70 people and has three locations in The Netherlands.
Mediq (MEDIQ.AMX) is an international supplier of medication and medical supplies through wholesale, pharmacies and direct supply to patients and care institutions.
PBG was sold for an enterprise value of € 40 mm.
Mentha Capital was a majority shareholder of PBG since June 2008. In that period, PBG mastered a partnership with the Dutch Diabetic Association (DVN), acquired two direct competitors and grew its sales with almost 50 per cent, doubling its earnings.
“Mentha is very pleased with the investment and the exit of PBG. Over the course of more than three years, we have worked hard on strategic repositioning and professionalization of the organization. The sales and profitability growth path is a great achievement by the company”, said Edo Pfennings, Partner at Mentha Capital and Supervisory Board Member with PBG. “Mediq is the logical partner for PBG as it will allow Mediq to profit from and further grow PBG’s leading position in the markets of direct diabetes supplies and supplies to general practitioners”.