European growth private equity investor Keensight Capital has completed the full sale of its stake in LDR, world market leader in next generation spinal implant devices.
Keensight Capital has supported LDR’s strong growth alongside its managers by helping the company both establish itself in the United Sates and bringing about the best possible conditions for marketing its innovative spinal implants, leading up to its successful IPO on the Nasdaq in October 2013. Over the past 3 years, the company’s turnover has increased from 91 million dollars in 2012 to 141 million in 2014. Beginning its flotation with a valuation of 450 million dollars, LDR passed the milestone of a billion dollars of market capitalisation in February 2015.
For Pierre Rémy, Managing Partner at Keensight Capital, says: “We are particularly proud to have partnered for LDR’s success story with the founding managers Christophe Lavigne, Hervé Dinville and Patrick Richard, as well as with their talented teams The successful internationalization of the company demonstrates the relevance of our investment strategy, which is based on creating value through profitable growth across innovative business sectors. Keensight’s DNA, closely linked to the entrepreneurial and industrial background of its founders, is to contribute as actively as possible to the development of the business projects which we support.
“In LDR’s case, we are extremely happy to have helped the company successfully conquer the American market, where LDR very quickly established its footprint. Receiving FDA approval for its artificial cervical disc developed by the company as well as the successful IPO on the Nasdaq represented two significant stages in the company’s history. Today, LDR generates over two thirds of its revenues in the United States and is in a very strong position to continue its remarkable growth story going forward.”