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Ardian Buying French Orthopedic Firm Lagarrigue After Selling Italian Rival Lima

Ardian Buying French Orthopedic Firm Lagarrigue After Selling Italian Rival Lima

Ardian closed the sale of Lagarrigue’s larger Italian rival Lima, to global private equity firm EQT’s seventh fund, EQT VII, as reported by ExitHub at the end of last year. Lima, employs more than 700 people and is a global player in the orthopedic space, present in more than 40 countries, with a turnover of €142.5 million in 2014, and EBITDA of €38.6 million. The global orthopedic market is expected to grow by approximately 5% per annum going forward, according to EQT industry analysts. The market benefits from favorable underlying fundamentals such as general population growth, ageing society and active lifestyles resulting in healthy and resilient growth dynamics. Lagarrigue specializes in the design and tailor-made manufacturing of major orthopedic equipment, such as prosthetics and orthotics, for patients suffering from permanent or temporary disability. Founded in 1976 and led by Alain Montean, president, and Jean-Pierre Mahé, managing director, the group has 33 agencies in France and employs more than 400 people. In 2016, Lagarrigue expects to achieve a turnover of more than €50 million. “After 5 years of strong growth thanks to constant support from Azulis, we needed a new strong partner to pursue our ambitious development strategy. With Ardian, we will benefit from the expertise and international network to enter into a new phase of development,” Montean and Mahé remarked in a press statement. “Our work with Lagarrigue is a good example of a successful partnership between a financial investor and a consumer-facing company, particularly as it evolves in the disability sector. We are proud to have supported the management in their development. The will to surpass themselves, the team spirit and ambition have allowed a local SME to become a leading player with a strong potential for development,” said Azulis Capital partner Christine Mariette. “Lagarrigue’s success is primarily due to the quality of its team, the performance of its agency network and the know-how the company has developed on this leading offer. There are numerous opportunities in this highly fragmented market and we look forward to supporting this company to continue its development, both in France and abroad, thanks to the support of Ardian’s resources and network,” added Ardian Expansion France managing director Marie Arnaud-Battandier. Natixis Partners is acting as M&A adviser to Ardian, with 8 Advisory, and Ariane Santé acting as financial and strategic advisers, respectively. Weil, Gotshal & Manges, and B&L Avocats are acting as legal and tax advisers. Edmond de Rothschild Corporate finance is acting as financial advisor to the sellers. Agilys and Coteg&Azam are acting as legal and tax advisers. Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with $55 billion in assets under management. The firm maintains a global network, with more than 430 employees working through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey and Luxembourg. Azulis Capital is one of the most active players in the French private equity market, with almost 110 investments realized over the past 20 years.]]>

Carlyle $CG Said to Hire Natixis to Shop European Implants Leader Marle for 300 M€

Carlyle $CG Said to Hire Natixis to Shop European Implants Leader Marle for 300 M€

Capital Finance. Carlyle’s goal is reportedly to achieve a valuation of 300 M€. Marle, based in Nogent, France, serves the worldwide orthopedic industry with specialized manufacturing services to produce hip, knee, shoulder, spine and extremities implants and instruments of the highest quality, within the shortest timeframe. The company offers a wide combination of technologies, which enables the production of the most diverse implant geometries, with strict tolerances and the highest quality and cost-efficiency achievable on the market. The Marle Group manufactured a million implants in 2015, with an annual turnover of 85 M€, and currently employs 530 people at five production facilities throughout France. Marle has been devoting its entire manufacturing expertise to orthopedic implants for more than thirty years. It has acquired or build a wide span of technologies dedicated to the medical industry and now offers one of the most complete manufacturing services in the orthopedics market. Establissements Maurice Marle SA was founded by Maurice Marle in 1964, and was taken over by Bernard Marle in 1978. In 2011, with Carlyle’s backing, Marle acquired SEEP (machining), ATS (investment casting) and Sferic (precision grinding), ranking amongst the top orthopaedics contract manufacturers in the world. On January 30, 2016, Marle acquired Finortho SAS which it merged with its SEEP SAS subsidiary, creating Marle Finishing. This enabled Marle to respond to the increasing market demand for expertise in polishing and to reinforce the development of an ever more complete supply chain solution for its customers. The global orthopedic biomaterials market was estimated at $55.63 billion in 2015, and is projected to reach $183.9 billion by 2022, according to Stratistics MRC, growing at a CAGR of 18.6% from 2015 to 2022. Growing demand for orthopedic medical treatments using biomaterial implants combined with stem cell therapy is the major factor driving the market growth. In addition, investments in new technology development, a high growth in the geriatric population coupled with cardiovascular diseases, and funds and grants from government bodies worldwide, are some of the drivers fuelling the market growth. Last week, Mich.-based medical-device maker Stryker Corp. bought British orthopedic implants company Stanmore Implants Worldwide for $52 million. Some of the key players in this market include BASF, Invibio, Carpenter Technology, Covalon Technologies, Zimmer Biomet Holdings, Cam Orthopedic Biomaterials, Medtronic, Exatech, Aesculap, NuVasive, Royal DSM, Wright Medical Technology, Bayer AG, Globus Medical, Ferring Pharmaceuticals, Arthrex, Corbion, Collagen Matrix, Evonik Industries and Berkeley Advanced Biomaterials.]]>