Swiss investment company Capvis has acquired the Ondal Group in Hünfeld near Fulda.
With more than 500 employees, Ondal produces pendant systems for medical applications.
In 2011-2012, it had a turnover of approximately EUR73m. Ondal manufactures its medical systems primarily in Germany, with final assembly plants in the US and China as well.
Capvis currently has holdings in 12 companies with a total of 17,000 employees and a total annual turnover of more than EUR3bn. Its portfolio includes safety technology supplier BARTEC, machinery manufacturer Benninger, kitchen and household appliance manufacturer WMF and Kaffee Partner.
According to Capvis partner Eric Trüeb, the Swiss investment firm would like to drive Ondal’s global expansion “in order to further develop its leading worldwide position as a supplier to major international medical technology companies.”
Andreas Mühlenbeck, managing director of Ondal, says: “Capvis has been demonstrating how to successfully develop mid-sized companies for more than 20 years. On top of that, we are convinced by their first-rate expertise in the medical technology industry. Together with Capvis, we would now like to reach the next stage in our development.”
Other companies the investment firm has helped grow both domestically and abroad include hearing aid manufacturer Phonak/Sonova, insulin pump manufacturer Disetronic and Remp, a laboratory supply company.
The company has requested approval from the anti-trust authorities in Germany and Austria which is, according to Capvis partner Trüeb, “not problematic.”
