The parties have agreed not to disclose the sale price, which is expected to be €1.4 billion, according to a report by news agency Bloomberg. The transaction is subject to customary regulatory approvals is expected to close in the fourth quarter of 2023.

Schülke is a provider of infection prevention and treatment products for the healthcare and life sciences industries. It supplies hospitals and other healthcare institutions with disinfectants and antisepsis products, and also sells to the pharmacy and direct patient care channels. The Norderstedt, Germany-headquartered company employs around 1,200 people and generates sales in more than 80 countries.

Matthias Wittkowski, Partner at EQT, said: “We were excited about Schülke’s purpose and mission critical role in the healthcare industry when we acquired the business, and are even more so today. In close partnership with the management team, we have transformed Schülke from a corporate subsidiary to a high-performing, stand-alone healthcare company.”

In 2020, EQT had acquired Schülke from the French industrial gases group Air Liquide. At that time, the company was more broadly positioned and also produced chemical additives for the cosmetics industry, for example. EQT sold operations that did not fit with the core business but also made strategic acquisitions. According to EQT, the Schülke has achieved double-digit annual revenue growth and nearly doubled EBITDA in its core healthcare business during this period.

“It has been a pleasure working with EQT Private Equity over the past years. Together we have strategically re-positioned the business, driven organic growth, and pursued an active M&A agenda with five add-on acquisitions. Perhaps most importantly, we delivered on a sustainability transformation strategy to ensure that we live up to our mission and are set up for sustainable growth,” commented Stefan Kukacka, CEO of Schülke.