STOCKHOLM, Sept. 25, 2023 /PRNewswire/ --
- EQT Private Equity, together with its co-shareholders, to sell LimaCorporate to NYSE-listed Enovis Corporation
- Under EQT Private Equity's ownership, LimaCorporate has grown to be one of the leading European orthopaedic companies. EQT and LimaCorporate worked together to further empower surgeons with innovative orthopaedic implants that improve patient outcomes
- Today, LimaCorporate's products are sold in 49 countries across the globe with more than 130,000 implants delivered every year, with a strong focus on product innovation helping surgeons restore the "eMotion of Motion" in patients
EQT is pleased to announce that the EQT VII fund ("EQT Private Equity" or "EQT"), together with its co-shareholders, have agreed to sell LimaCorporate (the "Company") to Enovis Corporation. With this transaction, LimaCorporate becomes part of the NYSE-listed Enovis Corporation in a strategic combination that creates a global leader in the orthopaedic industry.
Founded in 1945 by the Lualdi family and headquartered in San Daniele del Friuli, Italy, LimaCorporate is a global orthopaedic implant manufacturer with a heritage of innovation, reflected in its industry leading know-how in additive manufacturing, such as its proprietary Trabecular Titanium ("TT") technology. The Company focuses on shoulder, knee and hip prostheses with a portfolio that includes one of the first modular shoulder systems in the world, the SMR, the Delta hip cup family, and the Physica system knee.
EQT has supported LimaCorporate in the expansion of its product portfolio primarily through in-house innovation and the advancement of its 3D printing capabilities. It has invested to solidify its core offering and increase manufacturing capacity in the face of rapidly growing demand, while further developing talent to execute on the Company's market expansion, with accelerated global growth. In 2022, the Company reached revenues of EUR 249 million and it will continue to bring critical innovation to surgeons and patients as part of Enovis Corporation.
Matteo Thun, Partner within EQT Private Equity's Advisory Team, said, "LimaCorporate is a true example of sophisticated engineering and technology designed to empower surgeons and to improve patients' life. EQT is proud to have been part of the Company's journey and I want to thank the management team and all the employees of LimaCorporate, who work enthusiastically every day to bring life-changing products to patients around the world. It is exciting to see a global player like Enovis Corporation joining forces with LimaCorporate in such a strategic combination."
Massimo Calafiore, CEO of LimaCorporate, said, "I am really proud of what the people of LimaCorporate have achieved over the years and I thank EQT for their partnership. The combination with Enovis Corporation is a key milestone in our journey and I am looking forward to seeing the combined Group continue to develop innovative products for surgeons and patients globally."
The transaction is subject to customary conditions and approvals and is expected to close in early 2024.
EQT has been advised by Goldman Sachs as lead financial advisor, Morgan Stanley, Mediobanca, Latham & Watkins and PwC.
Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
The following files are available for download:
https://mb.cision.com/Main/87/3841397/2316446.pdf | PR_EQTVII_LimaCorporate_230925 |
https://news.cision.com/eqt/i/limacorporate,c3219108 | LimaCorporate |
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