DocMorris sold to Celesio
Today, we announced the sale of DocMorris to Celesio. This is really good news for the company. With the support of Celesio, who now owns 90% of the company, DocMorris will be able to expand even quicker and pursue the path which we helped set them on. Best of Luck to Ralf and his team. Congratulations on this great exit.
Update: if you're interested, below is the press release which went out this morning:
26.04.2007
3i, HgCapital and Neuhaus Partners sell DocMorris to Celesio
Frankfurt/Main, April 26, 2007. European private equity companies 3i and HgCapital as well as venture-capital investor Neuhaus Partners are selling their stakes in mail-order pharmacy DocMorris, domiciled in Heerlen in the Netherlands. The buyer is Celesio AG, Europe’s largest pharmaceutical distributor, which will in future thus be the majority shareholder in DocMorris. The company’s management will continue to hold a stake of just under 10 percent in DocMorris. The transaction is expected to be closed at the end of May. The purchase price is being kept confidential.
In recent years, the financial investors together with the DocMorris management have made focused investments to strongly push the company’s growth. In particular, they supported DocMorris in expanding its business model from thoroughbred mail-order business to include pharmacy business. Today, DocMorris has around 850,000 clients in mailorder selling. The company’s payroll of 330 achieved a 16-percent rise in sales last year to EUR 172 million; in 2007, the figure is expected to surge again. Thus, within the space of only seven years since start-up, DocMorris has become an established participant in the pharmaceutical sector.
Achim Lederle, Partner at 3i Germany, comments: “We are very happy that DocMorris will continue its outstanding development with Celesio as the new partner. In the years of our involvement, we made certain our network was at the disposal of the DocMorris management and, as an active supervisory board member, we setted the strategic course. DocMorris played an important role in the restructuring of the pharmaceutical market, the development of an entire sector was advanced by politics.”
Philipp Schwalber of HgCapital explains: “DocMorris was a highly successful investment for HgCapital. In recent years the company has performed superbly and achieved all its targets. DocMorris has established an excellent launch-pad for itself ready for the forthcoming deregulation of the German pharmaceutical market. With Celesio as a strong strategic partner at its side, the company has bright prospects, and the course for the future is set.”
Gottfried Neuhaus of Neuhaus Partners says: “As a founding investor we have been intensively involved in DocMorris’ history from its beginnings through to today. We are pleased that in the form of Celesio we have found a buyer who will provide the next boost to DocMorris growth and together with the outstanding management team will continue the company’s success story.”
For further details:
3i Deutschland Gesellschaft für Industriebeteiligungen mbH
Christiane L. Döhler +49 (0)89 54862-220
Citigate Dewe Rogerson GmbH
Matthias Link +49 (0)69 90500-150
About 3i
3i is a leading global private equity company for majority and minority holdings in medium-sized companies. In addition to furnishing equity, 3i also offers its portfolio companies wide-ranging know-how and access to the broad international 3i network. Alongside its core business, namely medium-sized buyouts, growth and infrastructure financing, 3i is also active in the venture capital market, with selective start-up and seed capital financing. 3i sees itself as the partner of the portfolio companies and focuses its activities on the partners’ mutual success.
3i is represented in 14 countries on three continents (Europe, Asia and North America). Last business year, the 3i Group invested about € 1.4 billion.
For further details, click www.3i.com.
HgCapital
Philipp Schwalber +44 20 7089 7920
HERING SCHUPPENER Consulting
Georg Jakobs +49 (0)69 921874-76
About HgCapital
HgCapital is a private-equity investor in the European mid-market. We focus on investments with an enterprise value in the range of € 50-500 million. Our business model combines sector specialisation with dedicated, pro-active support to our portfolio companies as well as the corresponding management expertise across all phases of the investment process. HgCapital manages more than € 2.7 billion for some of the world’s most respected institutional and private investors. Our goal is to achieve outstanding results for our investors, management team and intermediaries.
For further details, click www.hgcapital.com.
Neuhaus Partners
Dr. Gottfried Neuhaus +49 (40) 355 28 2 - 0
Dr. Pablo Fetter +49 (40) 355 28 2 - 0
About Neuhaus Partners:
Neuhaus Partners GmbH (formerly Dr. Neuhaus Techno Nord), based in Hamburg, was founded in 1997 by Dr. Gottfried Neuhaus and is one of Germany’s leading independent venture capital corporations. It invests throughout Europe in technology companies. Since its foundation, it has acquired a total of 36 stakes, among others in mobile telephony provider blau.de – in 34 of the companies Neuhaus Partners entered as the lead investor. Track Record: Two IPOs, 15 trade sales, two buy-backs, nine insolvencies. At present, Neuhaus Partners is in the fundraising process for a new € 100 million technology fund. First closing for this new fund “Neuhaus III” was in December 2006.
For further details on Neuhaus Partners visit www.NeuhausPartners.com
About DocMorris
Doc Morris is Germany´s best known pharmaceutical brand and at the same time Europe´s biggest mail-order pharmacy with sales of €172 million in 2006. The headquarter of the company is situated in Heerlen in the Netherlands. About 330 people work there on the success of the Doc Morris network. In 2006 Doc Morris has set up a branch in its primary market Germany in Saarbrücken. Since 2007, Doc Morris cooperates nationwide with on-site pharmacies. Until April, already 20 pharmacies from 7 federal states have entered a brand partnership. Doc Morris plans to win 500 pharmacies as cooperation partners throughout the next 3 to 5 years.
For further details on DocMorris please visit www.docmorris.de.
