NPM Capital-owned Dutch healthcare company Mentaal Beter has been put up for sale with indicative bids expected this week, sources told Reorg. The group, whose estimated EBITDA is €13 million, is expecting a financing package with a targeted range of 4.5x to 6x leverage to support its acquisition.
KPMG is running the sale process. A formal education process is taking place with lenders, sources said. Pitches are expected in the range of 4.5x to 5x leverage, sources added. Continue reading for the EMEA Core Credit team's update on the Mentaal Beter sale process, and request a trial for our coverage of thousands of other stressed, distressed and restructuring situations.
Potential bidders include private equity firms with a focus on healthcare and a few trade buyers, sources said.
NPM Capital acquired the business in 2014. In the following years, the group acquired Van Rhoon Psychologen and Opdidakt as well as four other mental health practices.
Founded in 2004, Mentaal Beter provides outpatient mental healthcare through a cloud-based back office. In 2019 the company’s revenue almost doubled to €55 million from €23.5 in 2015 according to NPM Capital’s website
. The company has more than 1,000 employees across regions in the Netherlands.
KPMG declined to comment. NPM Capital did not respond to Reorg’s request for comment.