What did Nordic Capital and Astorg pay for Cytel Inc.?

Nordic Capital and Astorg acquired Cytel Inc. for $1.00B in 2020 (25.0x EBITDA), equivalent to 5.00x revenue. Target revenue was approximately $200.0M. Target EBITDA was approximately $40.0M.

What does Cytel Inc. do?

Cytel Inc. is a healthcare it business.

What multiple did Nordic Capital and Astorg pay for Cytel Inc.?

25.0x EBITDA and 5.00x revenue, based on disclosed deal value of $1.00B and disclosed financials.

M&A TRANSACTION · 2020

Cytel Inc. acquired by Nordic Capital and Astorg

$1.00B· 25.0x EBITDA· 5.00x revenue

Target

Cytel Inc.

Acquirer

Nordic Capital and Astorg

Strategic buyer

Disclosed financials at time of acquisition

Revenue

$200.0M

EBITDA

$40.0M

Deal Value

$1.00B

EV/EBITDA

25.0x

Context

This $1.00B acquisition of Cytel Inc. by Nordic Capital and Astorg sits in the healthcare it sub-vertical. The 25.0x EBITDA multiple paid in 2020 can be compared against the population median for healthcare it transactions of similar size on our Healthcare It valuation hub. Nordic Capital and Astorg is acquiring as a strategic buyer; see how strategic acquirers typically price healthcare it businesses on our Healthcare It strategic buyer-pool page.

Source

Data sourced from Press reporting. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2020). Cytel Inc. acquired by Nordic Capital and Astorg. https://exitvalue.ai/deals/cytel-inc-acquired-by-nordic-capital-and-astorg-hc-2020-0112