Duke Street, a European midmarket private equity group, has agreed to sell Medi-Globe Technologies (Medi-Globe) to DCC Healthcare, a wholly owned subsidiary of the FTSE 100 listed international sales, marketing and support services group DCC plc, for an enterprise value of approximately €245 million (£213 million).
The transaction is subject to completion authority clearance in Germany and France, with completion expected in Q4 2022.
Medi-Globe is an international manufacturer and distributer of medical devices which sells into over 120 countries. The company focusses on single-use accessories for use in critical surgical and diagnostic procedures in the fields of gastroenterology and urology in particular. The business is global, headquartered near Munich, Germany with manufacturing facilities in the Czech Republic and sales and marketing operations in Germany, France, Austria, Netherlands, China, Czech Republic and Brazil. Medi-Globe had group revenues of approximately €120 million (£104 million) in 2021.
Duke Street invested in the business in 2016, following a two-year period of origination focussed on the medical devices sub-sector.
Since acquiring the business, Duke Street has backed the highly experienced management team – who will continue to lead the business post-transaction – to execute a strategy based on launching leading new products in its core therapeutic areas, and to consolidate and extend Medi-Globe’s international reach.
