Portfolio / Cardinal MedDevices
Healthcare · Minneapolis, MN
Cardinal MedDevices
Contract manufacturer of Class II single-use surgical instruments; 3 FDA-registered facilities.
Deal lead: S. Whitaker
Analyst: J. Alvarez
LTM Revenue
$234.8m
LTM EBITDA
$43.1m
Multiple
10.5x
Net debt
$165m
Enterprise value
$452.6m
Historical marks
Quarterly Financials
Ownership 78% · Cost $240m
| Cardinal MedDevices Current mark | WST Public comp | ICLR Public comp | SYK Public comp | |
|---|---|---|---|---|
| Operating results | ||||
| LTM Revenue$m | ||||
| LTM EBITDA$m | ||||
| EBITDA margin | 18.4% | 20.3% | 16.8% | 18.9% |
| Valuation build | ||||
| Multiple (EV / LTM EBITDA)x | ||||
| Enterprise value | $452.6 | $1263.6 | $419 | $795.7 |
| (−) Net debt$m | ||||
| Equity value (100%) | $287.6 | $988.5 | $285.7 | $594.5 |
| Fund share (78%) | $224.3 | $771 | $222.8 | $463.7 |
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