Advent snaps up Priory after Bain flops

The Royal Bank of Scotland (RBS) has reached an agreement to sell the Priory Group to Advent International for £925m. The deal is equivalent to 9.25 times reported (but unconfirmed) EBITDA of £100m for the year ending December 2010, and Advent has solicited the services of Credit Suisse, Deutsche Bank and RBS to act as…

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