US-based private equity firm Clayton, Dubilier & Rice has completed its acquisition of UK-listed healthcare communications business Hunthworth for £577m. CD&R agreed on the takeover of the business earlier this year for 108p in cash per share, representing a 50% premium to its closing price of 72p on 2 March. The enterprise value of the deal was previously said to be £524m. Huntsworth, which provides marketing and medical communications services to pharmaceutical and biotech companies, posted an 18% increase in revenue last year to £265m. In the 12 months to 31 December 2019, Huntsworth’s headline profit before tax was up 27% to £39.1m. Headquartered in London, the company operates 46 offices around 20 countries with approximately 2,000 employees. Huntsworth’s brands include Citigate Dewe Rogerson and Grayling.
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Source: https://www.penews.com/articles/clayton-dubilier-rice-completes-577m-take-private-deal-20200501