Galderma (Nestle Skin Health)

active

Dermatology / Pharma — EQT / Abu Dhabi Investment Authority / OMERS

Deal Terms

Entry Year2019

Entry EV$10.2B

Entry Multiple14x

Leverage5x

Debt Amount$5.1B

Risk Metrics

LTV (est.)50%

Debt / EV0.50x

Notes

EQT-led consortium bought Galderma from Nestle for $10.2B (2019). World's largest independent derm company: Cetaphil, Restylane, Sculptra. IPO'd on Swiss exchange March 2024. Stock performance mixed. $5.1B debt at acquisition. Aesthetics (Botox-competitor) is growth driver but price competition intensifying. PE turned a Nestle cast-off into an independent derm giant — rare mega-deal that (so far) worked.

Sponsor

EQT AB$130B AUM