Coloplast divests its Breast Care business unit to Granville Baird Capital Partners Advisors
Coloplast has entered into a definitive agreement to divest of its Breast Care business unit. The Breast Care business unit includes the legal entity Amoena Medizin-Orthopädie-Technik GmbH and certain breast care activities performed by Coloplast A/S and its subsidiaries (in the following “Amoena”).
The purchaser of Amoena, Granville Baird Capital Partners Advisors Limited (Granville Baird), is a private equity fund based in Hamburg, Germany. Granville Baird specializes in management buyouts and the funding of growing medium-sized companies in Germany.
The due diligence process has been completed and the deal is expected to close 31 March 2007, subject only to customary conditions.
Coloplast acquired an initial portion of Amoena in 1994 and took full control of the company in 2002. Amoena has been managed as a separate business unit within Coloplast. As part of Coloplast’s strategy towards 2012, Coloplast will prioritize its three core business areas, Ostomy Care, Urology and Continence Care as well as Wound and Skin Care.
Aim on further profitable growth
Amoena’s 2006 growth, its best in the history of the Company, made it an attractive acquisition target for Granville Baird. According to Mathias Schirmer, Partner with Granville Baird, “Amoena is the global market leader with operations in over 60 countries”. “The Company’s commitment to innovation and its broad, international distribution network are a strong basis for further profitable growth.” Jens Stovgaard, CEO of Amoena Group, welcomes the new majority shareholder: “The management firmly believes that with the support of Granville Baird, Amoena will be able to successfully continue its expansion path. Being independent from a larger group will give us more flexibility to capitalize on market opportunities quickly.”
Mr. Stovgaard, has accepted to continue as CEO of the Amoena Group and therefore leaves Coloplast after more than 15 years as General Manager.
Further information
Amoena provides an industry-leading portfolio of breast forms, partial symmetry shapers, specialty textiles, swimwear and accessories for women after breast surgery. Amoena has research, development and manufacturing facilities in the United States, Germany and Costa Rica. Amoena serves breast care markets in North, Central and South America, Europe, the Far East and Pacific Rim, and Australia. The company is the sponsor of www.TheBreastCareSite.com, an educational web site created to help breast cancer survivors reclaim a positive body image and a healthy lifestyle.
FOR MORE INFORMATION:
Carla M. Fox
General Manager
Amoena
Tel: 770-281-8300
uscmf@amoena.com
Back to overview