CVC Plans to Acquire Control of Compugroup, Announcing Upcoming IPO
Financial investor CVC is preparing to grab a significant chunk of Compugroup, a Koblenz-based medical software company, with plans to delist it from the stock exchange. Major shareholders, led by founder Frank Gotthardt, aim to maintain their 50.1% control for at least two years, despite CVC's takeover bid of €22 per share. This offer represents a hefty 33% premium over the previous week's closing price, estimated to be around €1.18 billion. CVC aims to secure a minimum of 17% shares. Compugroup shares saw a massive 30% surge to €21.38 in initial trading sessions.
Since February, following a profit warning, Compugroup's stock has witnessed a significant downfall, shedding more than half its worth. If all eligible shares are tendered, CVC's investment would amount to approximately €545 million. The Gotthardt family owns 46.3% of Compugroup shares, with 3.8% held by Reinhard Koop and an additional 3.7% by the company itself. The acceptance period is slated to commence by the year's end.
CVC intends to boost Compugroup's financial structure by taking on fresh loans, a common tactic among financial investors. Daniel Gotthardt, the current CEO and son of the founder, commented, "With CVC's extensive knowledge in healthcare and software investments, we are well-equipped to execute our strategic plans." CFO Daniela Hommel added that CVC's presence would expedite Compugroup's ability to finance acquisitions more promptly and on a larger scale. "The association with CVC offers us the opportunity to explore greater growth prospects, including investments in inorganic growth and a stronger emphasis on cloud-based services and AI-driven solutions."
Frank Gotthardt referred to CVC as an "ideal partner." He established Compugroup in 1987 and took it public in 2007. Besides being the founder, the 74-year-old is also renowned as the owner of the Cologne Sharks, a first-division ice hockey club, and the Boulevard news portal Nius, with Julian Reichelt, former Bild editor-in-chief, emerging as its most prominent figure.
Financial investors, like CVC, often seek opportunities to reinforce a company's financial structure through strategic investments and loans. Frank Gotthardt, recognizing CVC as an ideal partner, believes that their extensive knowledge in healthcare and software investments could significantly contribute to Compugroup's growth plans.
