P+P advises Equistone on the acquisition of a majority stake in Omnicare
Equistone Partners Europe acquired a majority stake in Omnicare, a pharmaceutical wholesaler operating throughout Germany that primarily distributes finished medicinal products to compounding pharmacies for production of patient-specific cancer drugs.
Omnicare is being bought from a consortium of shareholders which will retain a stake in the company. The financial terms of the transaction have not been disclosed and the acquisition remains subject to clearance by the relevant antitrust authorities. The transaction is expected to be complete in Q4 2019.
Based in Unterföhring/Bavaria, Omnicare Holding GmbH & Co. KG was founded in 2002 to distribute the products of pharmaceutical companies. Since then, the company has become a market leader in distribution to compounding pharmacies that serve oncological patients across Germany. Omnicare generates annual sales of around €670m and employs 193 staff in Unterföhring, Cologne and Calw.
Equistone Partners Europe is one of Europe's leading equity investors. These investments are focused on established medium-sized companies. With more than 150 transactions, the portfolio currently comprises more than 40 companies throughout Europe.
P+P Pöllath + Partners advised Equistone on all legal and tax matters with the following multidisciplinary team in all locations:
- Andrea von Drygalski (partner, lead, M&A/PE, Munich)
- Ralf Bergjan (partner, M&A/PE, Munich)
- Benedikt Hohaus (partner, M&A/PE, Munich)
- Timo Winkelmann (partner, real estate, Berlin)
- Roman Stenzel (counsel, M&A/PE, Munich)
- Christine Funk (senior associate, M&A, Frankfurt)
- Michaela Lenk (associate, M&A/PE, Munich)
- Nemanja Burgic (associate, M&A/PE, Munich)
P+P Pöllath + Partners was supported
- on pharmaceutical, pharmacy law and vol. 5 of the social security statute book ("SGB V") by the law firm Dr. Jäkel (Dr. med. Christian Jäkel, specialist lawyer for medical law and doctor, lecturer at Dresden International University) and
- on medical law (SGB V, in particular medical care-centres ("MVZ") and compliance in health services by the law firm WEIMER | BORK (Dr. Tobias Weimer, M.A., specialist lawyer for medical law)
Additional advisors of Equistone were Alvarez & Marsal (commercial), Deloitte (financial), Houlihan Lokey (financing), Dechert (antitrust), Shearman & Sterling (legal financing) and ETS (insurance).