Karo Pharma’s Acquisition of Trimb

SEB Corporate Finance and White & Case acted as advisors to Karo Pharma in relation to the Transaction. Rothschild & Co and Ropes & Gray acted as advisors to Avista Capital Partners and other shareholders.

Karo Pharma is a specialty pharma company, which develops and markets products for pharmacies as well as directly to the healthcare sector. Karo Pharma is listed on Nasdaq Stockholm Mid Cap.

Trimb is a leading consumer healthcare company based in Stockholm, Sweden. Founded in 2012, Trimb owns licenses to, markets and sells a large number of over-the-counter pharmaceuticals and consumer healthcare products across Northern Europe. Over the last five years, Trimb has completed several strategic acquisitions and executed a number of organic growth initiatives and has a portfolio of leading brands focused on skin care, foot care, oral care and intimate health categories.

Karo Pharma acquired all the shares of Trimb Holding AB from Avista Capital Partners and other shareholders.

Founded in 2005, Avista Capital Partners is a leading New York-based healthcare-focused private equity firm.

Karo Pharma acquired Trimb for MSEK 3,400 on a cash and debt free basis (Enterprise Value). The acquisition will be financed through new credit facilities and a bridge loan facility provided by SEB and Swedbank.

The intention is to, post-closing of the Transaction, repay the bridge loan facility with proceeds from a new share issue with pre-emptive rights for Karo Pharma’s shareholders of approximately MSEK 1,500.

The Transaction is expected to contribute positively to Karo Pharma’s market position and create a strong platform for Karo Pharma’s continued growth.

The Ropes & Gray team, all based in London, was led by private equity partner Helen Croke (Picture). Other members of the team included private equity associates Laura Kayani, Tarun Patel and Craig Jourdan alongside antitrust partner Ruchit Patel and antitrust associate Rupert Phillips.

Involved fees earner: Helen Croke – Ropes & Gray; Craig Jourdan – Ropes & Gray; Laura Kayani – Ropes & Gray; Ruchit Patel – Ropes & Gray; Tarun Patel – Ropes & Gray; Rupert Phillips – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: Avista Capital Partners;