The INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, has sold its entire stake in the MBL Group to the private equity investor MidEuropa. MBL is a leading European contract development and manufacturing organisation (CDMO) for assisted mobility, rehabilitation and aged-care equipment. The founding Lauritsen family has reinvested a significant amount, and Martin Lauritsen will continue to lead the company as CEO, the transaction participants announced. The exit, the second for the INVL Baltic Sea Growth Fund, already enables full repayment of the fund to investors.
Nerijus Drobavicius, a Partner at the INVL Baltic Sea Growth Fund, commented: "We invested in MBL back in mid-2020, during the first Covid wave, as we saw large potential in the company. We have been excited to see the company's EBITDA almost triple since we invested. We greatly appreciate the Lauritsen family's ability to combine customer empathy with engineering excellence to create products that genuinely improve lives. MBL has become a world-class CDMO and we are confident it will continue to thrive with its new partners."
Ashwin Roy, a Non-Executive Partner at the INVL Baltic Sea Growth Fund, added: "We are proud to have supported MBL through a challenging macroeconomic environment, from which it has emerged as a clear category leader with enhanced innovation capabilities and a strong platform for further success."
Founded by the Lauritsen family in Denmark in 1988, MBL is the largest European CDMO for medical mobility devices, including wheelchair components, rollators, power add-on devices, and other rehabilitation equipment. With deep expertise in both individual component manufacturing and complete mobility solutions, MBL has built a highly differentiated, fully integrated platform combining in-house R&D, state-of-the-art manufacturing and industry-leading reliability. The company employs approximately 1,700 skilled professionals across manufacturing hubs in Europe and Asia, serving global blue-chip clients. With more than 100 registered patents, it is highly regarded for its innovation capabilities. MBL's revenue in 2025 is expected to exceed EUR 120 million.
Martin Lauritsen, the CEO of MBL, commented: "MBL has had the privilege of working with the Invalda INVL Group over the past several years and is now excited to welcome MidEuropa. We see this transaction as a strong endorsement of our business model and long-term potential. With the continued commitment of our family, we are excited to enter the next phase of international growth, building on our position as the leading European CDMO in assisted mobility and rehabilitation. Most importantly, we will continue to strengthen our partnerships with customers, developing innovative solutions that improve quality of life for the people who rely on our products every day."
Rustam Kurmakaev, Principal at MidEuropa, who led the transaction, said: "We are impressed by what the Lauritsen family has achieved in creating a fully integrated international platform. We look forward to supporting Martin and his team as they further strengthen MBL's offering and continue the company's journey towards becoming a global leader in its field. The assisted mobility market is set for sustained growth, driven by population ageing, rising prevalence of chronic conditions and expanding access to mobility solutions worldwide."
Robert Knorr, Managing Partner at MidEuropa, added: "This investment underscores our continued commitment to backing high-quality healthcare platforms with strong fundamentals, differentiated capabilities and long-term growth potential."
The transaction was led by Jefferies International as M&A advisor. Also assisting the fund were legal advisors Horten, financial and tax advisors Deloitte, and commercial advisor L.E.K.
About the INVL Baltic Sea Growth Fund
With a fund size of EUR 165 million, the INVL Baltic Sea Growth Fund is one of the leading private equity funds in the Baltics. Its anchor investor is the European Investment Fund (EIF), which is a part of the European Investment Bank and committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) while also allocating resources from the Baltic Innovation Fund (a "fund of funds" initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia, to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics). The fund is managed by INVL Asset Management, the leading Baltic alternative asset manager, which is a part of the Invalda INVL Group with over 30 years of experience. The group's companies manage or have under supervision more than EUR 2 billion in assets across various investment strategies, including private equity, forests and agricultural land, renewable energy, real estate, and private debt. Additionally, the group provides family office services in Lithuania, Latvia and Estonia, manages pension funds in Latvia, and invests in global third-party funds.
About MidEuropa
MidEuropa is a leading European private equity investor with deep roots in Central Europe and a track record spanning over 25 years. Headquartered in London, with offices in Warsaw and Bucharest, MidEuropa takes a flexible pan-European and global approach to identify winning investments across the healthcare, technology, services, and consumer sectors, and supports them in their growth and international expansion. To date, MidEuropa has raised and managed funds of over EUR 6.8 billion and completed 46 investments and more than 290 add-on acquisitions across 20 countries. www.mideuropa.com
The person for additional information:
Nerijus Drobavicius, a Partner at the INVL Baltic Sea Growth Fund
nerijus.drobavicius@invl.com
