Eterus Capital and Ethernum Capital have partnered to consolidate the Slovak pharmacy market
August 2024 — Eterus Capital has acquired a majority stake in EC Pharmacies, a consolidation platform established in partnership with Ethernum Capital.
Eterus Capital is a private equity fund founded in 2008, specializing in supporting small and medium-sized enterprises with proven business models and growth potential. The fund focuses on minority investments, ensuring management control remains with the original shareholders. Over the years, Eterus Capital has provided more than US$41 million (€40 million) in funding to over 20 companies. Its portfolio includes prominent brands such as Sygic, HOPIN, eyerim, Saneca Pharmaceuticals, Groupsolver and MTBIKER.
EC Pharmacies is a joint venture between Eterus Capital and Ethernum Capital, established to consolidate the Slovak pharmacy market through a "buy-and-build" strategy. The objective is to acquire 25–50 targeted pharmacies, improve operational performance, centralize marketing and supply chains and ultimately sell the established network to a strategic partner. Since its inception, EC Pharmacies has acquired nine pharmacies with an estimated annual portfolio revenue of US$6.2 million (€6 million). The company plans to expand its network by launching and acquiring additional operations in the near future, further strengthening its market presence.
Our role in the transaction
Oaklins’ team in Slovakia advised the buyer in this transaction.
Talk to the deal team
Related deals
Valuation advisory has been provided to a co-investor in VDK
EMK Capital has transferred VDK Groep B.V. from EMK Capital Partners Fund I into the newly established US$1.4 billion single-asset continuation fund, the EMK VDK Partnership Fund, alongside a co-investment from EMK Capital Partners Fund III. The transaction, co-led by LGT Capital Partners and Coller EQT, provides existing investors with the opportunity to retain their exposure to VDK while securing additional capital to support the company’s continued growth and buy-and-build strategy.
Learn moreBe-Cloud has been acquired by PSG Equity
Be-Cloud, backed by B&Capital since 2021, has been acquired by PSG Equity, a leading growth equity firm specializing in software and technology-enabled services. The transaction marks the full exit of B&Capital and the reinvestment of Be-Cloud’s founders, Lenny and Sébastien Vercruysse, alongside PSG Equity.
Learn moreMattina Holding has sold a 5% stake in Gens Aurea via accelerated bookbuild
Mattina Holding S.A. (DVC Partners) has sold a 5% stake in Italian company Gens Aurea S.p.A. through an accelerated bookbuild, raising approximately US$69.96 million.
Learn more