- EQT VI has agreed to acquire market leading medical supplies manufacturer BSN medical for an enterprise value of around EUR 1.8 billion
- EQT VI plans to support and accelerate BSN’s growth by investing into the core business and geographic market expansion and by making targeted add-on acquisitions
- Management intends to reinvest a substantial amount of their transaction proceeds into BSN medical
EQT VI has agreed to acquire medical supplies manufacturer BSN medical (“BSN” or the “Company”) from Montagu Private Equity and the company’s management for an enterprise value of around EUR 1.8 billion. BSN was founded in 2001 as a joint venture between Beiersdorf AG and Smith & Nephew, and was acquired by Montagu Private Equity in 2005.
With sales of close to EUR 700 million and approximately 4,000 employees, BSN is one of the world’s leading suppliers of wound care, compression therapy, and orthopaedic products to hospitals, pharmacies and sanitary shops.
In the Wound Care segment, the Company’s portfolio includes both Acute and Advanced Wound Care products. The Compression Therapy business focuses, amongst others, on ready-to-wear and custom-made compression garments, covering phlebology and lymphology indications. In Orthopaedics, BSN offers a comprehensive range of products for fracture management, physiotherapy and orthopaedic soft goods.
BSN is focused on innovation to continuously differentiate the Company’s product portfolio, with many of BSN’s well-known brands – Gypsona®, Cutimed®, Actimove®, Leukoplast®, JOBST®, Elvarex® and Delta-Cast® – being among the most trusted names in the healthcare profession.
BSN operates production facilities in Germany, France, Colombia, Mexico, New Zealand, Pakistan, South Africa, the US and Venezuela, and sells its products globally – mainly via directly-owned affiliates, but also through joint ventures and distribution agents.
“We view BSN as a highly attractive growth case with strong resilience across the business cycle. While continuing to strengthen the position in key markets and in key product segments, there is tremendous potential in entering new geographic markets, especially in Asia and Latin America. BSN’s global foot-print and large sales force provide an excellent platform for add-on acquisitions”, says Marcus Brennecke, Partner at EQT Partners in Germany, Investment Advisor to EQT VI.
“We are very pleased to welcome EQT VI as our new owner and look forward to working together with EQT VI and the new Supervisory Board to fully realize the exciting growth potential that BSN has. EQT’s experience in improving global companies and its extensive network of highly relevant Industrial Advisors will be of great value to BSN and to us as the management team”, says Dr. Claus-H. Wiegel, CEO of BSN.
The transaction is subject to approval from competition and other relevant authorities.
Morgan Stanley and Deutsche Bank acted as financial advisors to EQT VI.
EQT VI Spokesperson Marcus Brennecke, Partner at EQT Partners Germany
+49 89 25549920
Johan Hähnel, Communications & PR
+46 8 506 55 334
EQT is the leading private equity group in Northern Europe with close to EUR 18 billion in raised capital and multiple investment strategies. Together with a superior network of independent Industrial Advisors, EQT implements its investment strategy by acquiring or financing good medium-sized to large companies in Northern and Eastern Europe, Asia and the United States, supporting their development into leading companies. Development is achieved by an industrial strategy with focus on growth. Since inception, EQT has invested more than EUR 11 billion in around 100 companies and exited close to 50. EQT-owned companies have more than 550,000 employees.
EQT Partners, acting as Investment Advisor to the managers of each EQT fund, has around 120 investment professionals with an extensive industrial and financial competence. EQT Partners and its affiliates have offices in Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich, New York, Shanghai, Singapore, Stockholm, Warsaw and Zurich.
More information can be found on www.eqt.se
About BSN medical
BSN medical is a global medical device company and one of the world’s leading suppliers in the product segments of casting, bandaging, wound care and compression stockings, focusing on developing world-class products that offer high quality solutions for both caregivers and patients. BSN sells its products globally via direct affiliates, joint-ventures and distributors. The company employs more than 4,000 people and has generated revenues of EUR 665 million in 2011.
More information can be found on www.bsnmedical.com
EQT VI is part of the leading private equity group EQT (being existing EQT funds advised directly or indirectly by EQT Partners or its subsidiaries, collectively “EQT”).