PRINT THIS PAGE Nordic Capital buys majority stake in Nycomed from DLJ and Blackstone11/03/2005. Source: AltAssets. 
 Nordic Capital has announced another transaction in what is proving to be a busy year for the Nordic private equity firm. It has agreed to re-acquire a controlling interest in the European pharmaceutical company Nycomed from a group of investors led by DLJ Merchant Banking and The Blackstone Group. Nycomed, headquartered in Roskilde, Denmark, is valued at €1.8bn.
Nycomed, a provider of hospital products and general practitioner and pharmacy medicines, employs about 3,000 people throughout Europe.
Nordic Capital first bought Nycomed in 1999 and sold it in November 2002 to DLJ Merchant Banking and Blackstone, together with a group of investors including Alpinvest.
Following the transaction, Nordic Capital, DLJ Merchant Banking and Blackstone will all be represented on the board of a new holding company.
Nordic Capital focuses on the Nordic middle-market arena. Only days ago the firm announced that it had joined forces with CVC Capital Partners to buy Amsterdam-based Leaf, the Sugar Confectionery division of the international food ingredients and confectionery company CSM, for approximately €850m. Almost at the same time, Nordic Capital signed an agreement to acquire the Swedish medical device company Atos Medical from Fisher Scientific International for $110m.
In February, the firm and New York-based private equity firm Baker Capital signed a definitive agreement to sell their interest in C More Group, a premium pay-TV provider, to European media group SBS Broadcasting for €269.6m. Also this year, Nordic Capital made a recommended tender offer to the shareholders of playground equipment supplier Kompan.
DLJ Merchant Banking has invested more than $9bn in more than 140 portfolio companies since 1985 and is currently investing through DLJ Merchant Banking Partners III, with capital commitments of $5.3bn. DLJ Merchant Banking is the largest business within Credit Suisse First Boston's Alternative Capital Division.
Blackstone, founded in 1985, has raised a total of $32bn for alternative asset investing since its formation, over $14bn of which has been for private equity investing.
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