IK Investment Partners acquires Ondal Medical Systems
IK Investment Partners’ (IK) IK VIII Fund has reached an agreement to acquire Ondal Holding (Ondal), a leading Original Design Manufacturer (ODM) of medical pendant systems used mainly in operating rooms and intensive care units, from funds advised by Capvis.
Founded in 1945, Ondal has become the global #1 provider of medical pendant systems. With its innovative and broad product portfolio applied in settings such as operating rooms, intensive care units as well as diagnostic and imaging rooms, Ondal sets the global quality standard for medical pendant systems in terms of reliability, functionality and usability. Products manufactured by Ondal are internationally certified in various regulated markets, ensuring compliance with the highest quality standards. Headquartered in Hünfeld, Ondal operates three strategically located manufacturing sites in Germany, the US and China, employing over 500 people.
“With our high-quality pendant products, we carry, move and supply medical equipment to create optimal working conditions. This has enabled us to establish longstanding relationships with international blue-chip customers. IK is the ideal partner as they have a profound understanding of medical technology end-markets and share our vision for growth. We would like to thank Capvis for its support during our partnership,” says Bernd Fabian, CEO of Ondal.
“Ondal is the globally leading platform for medical pendant systems and trusted strategic partner to medical technology companies. Together with management, we will continue to build on the Company’s strong market position as technology leader in its product segment,” says Anders Petersson, Partner at IK and advisor to the IK VIII Fund.
Ondal represents the IK VIII Fund’s fourth Mid Cap acquisition this year, and the 15th acquisition announced by the Fund. Financial terms of the transaction have not been disclosed.