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Bids For Montagu's BSN Medical Due Next Week - Sources

By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- Bids for Montagu Private Equity's portfolio company BSN Medical are due next week, people familiar with the situation told Dow Jones Newswires on Wednesday. Buyout firms CVC Capital Partners and BC Partners are working on a joint bid, and Apax Partners has also expressed interest, the people said. Trade buyers are also expected to submit bids. Montagu hired Goldman Sachs Group Inc. (GS) and HSBC Holdings PLC (HBC) several months ago to run an auction of the business, which is expected to fetch between EUR1.8 billion and EUR2 billion, or 11 times 2011 earnings before interest, taxes, depreciation and amortization. BSN is based in Hamburg and its products include all types of wound care, including casting, bandaging, traditional wound care and compression therapy. Its brands include Gypsona, Cutimed, Actimove and Elvarex. Montagu bought BSN Medical for EUR1.03 billion in 2005. It first tried to sell the company in September 2008 and hired Morgan Stanley (MS) to handle the process, but the sale was put on ice because of the financial crisis, which reduced the amount potential buyers were prepared to pay. A subsequent attempt to float the company was aborted amid weak stock markets and growing investor unease about European government finances, which put the brakes on a number of initial public offerings. -By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; marietta.cauchi@dowjones.com

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