Funds advised by Apax Partners and Fremman Capital are to jointly acquire co-controlling stakes in Palex Medical, from funds advised by current majority shareholder Fremman, and other minority shareholders in a deal that values the business at around €1bn.
Funds advised by Apax Partners (Apax) and Fremman Capital (Fremman) are to jointly acquire co-controlling stakes in Palex Medical (Palex), from funds advised by current majority shareholder Fremman, and other minority shareholders in a deal that values the business at around €1bn.
Palex is a provider of medical technology equipment and solutions in Southern Europe.
Following the transaction, Apax and Fremman say they will partner with Palex’s management team to “help drive future value creation and pursue international growth”.
Founded in 1955 and headquartered in Barcelona, Palex focuses on the marketing, sales and logistics of high value-added medtech equipment for public and private hospitals and laboratories in Spain, Portugal and Italy.
Bank of America, Jefferies and Credit Suisse are acting as financial advisors on the transaction.
Pérez-Lorca and Uría Menéndez are acting as legal counsel to Fremman and management, Sullivan & Cromwell and Garrigues are acting as legal counsel to Apax. Dextra Corporate and Deloitte have participated advising the management.
