• Sale process could launch this quarter
• SK projects EUR 10m EBITDA for 2025

Shareholders in SK Pharma Logistics have mandated Lincoln International for a potential sale of the German business, according to four sources familiar with the matter.

A process is expected to launch in 1Q26, two of the sources said. SK Pharma is projecting around EUR 10m EBITDA in 2025, three sources said.

SK Pharma Logistics’ holding company, Hermes BidCo GmbH, reported EUR 43.5m revenue in 2023 and EUR 36.2m in 2022, according to its latest public filing.

In early 2022, Syz Capital and Saturnus Capital acquired 80% in SK Pharma Logistics, according to a press release. Later in the year, Spanish private equity fund Quarza Inversiones bought a minority stake, as reported by El Economista.

Besides SK Pharma Logistics, fellow German healthcare-focused logistics company Life Couriers is also expected to be sold this year, as reported by this news service.

Bielefeld-based SK Pharma Logistics specialises in the storage, handling, repackaging and distribution of pharmaceutical products, including temperature-controlled goods and strictly regulated narcotics, which are stored and handled separately. It offers turnkey logistics solutions across the value chain to European and global pharmaceutical clients.

The business is one of the few logistics providers in Germany with a narcotics licence, which is highly attractive to buyers requiring such regulated capabilities, one source said.

Lincoln declined to comment. SK Pharma Logistics, Quarza Inversiones, Syz Capital, and Saturnus Capital did not respond to requests for comment.