Mallinckrodt to Sell Therakos to CVC for $925M: M&A Snapshot

Mallinckrodt and CVC Capital Partners entered into a pact under which CVC Capital Partners Fund IX will acquire its Therakos business for $925 million, according to a statement

• Mallinckrodt intends to use net proceeds from the transaction to reduce its net debt by more than 50%, the statement said
• Divestiture advances Mallinckrodt’s strategic priorities to focus on core areas of expertise
• The deal is expected to close in the fourth quarter
• Lazard is serving as Mallinckrodt’s financial advisor
• UBS is serving as CVC’s financial advisor

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