EQT V (or “EQT”) has agreed to sell HTL-Strefa S.A. (“HTL”) to Investindustrial. Following the acquisition, HTL will be combined with PIC (www.picsolution.com), Artsana’s healthcare business acquired by Investindustrial in 2016. HTL is a fast-growing medtech company and pioneer in medical sharp devices, providing critical medical products across more than 80 countries globally addressing continuously growing healthcare needs.
EQT V acquired HTL in December 2009 with the strategy to strengthen HTL’s position as the global market leader in blood micro-sampling devices while expanding into adjacent product categories. The new management team, led by Mikkel Danvold, accelerated the transformation of HTL into a customer-centric innovative medtech company offering superior solutions to its customers. The transformation has been accomplished by driving a strong commercial agenda throughout the organization and by leveraging the superior quality and operational fundamentals of HTL. Expansion into multiple adjacent market segments, supported by increased investments in product development and production capacity have allowed HTL to experience strong organic growth and increased profitability.
From 2009 to March 2018 LTM, revenues doubled to approximately EUR 82 million and adjusted EBITDA more than doubled. Already in 2017 HTL doubled its revenue and EBITDA growth versus previous years and in the first quarter of 2018 alone, HTL has further accelerated growth to 4x historical growth rates.
Mads Ditlevsen, Partner at EQT Partners and Investment Advisor to EQT V, says: “HTL has undergone an extraordinary transformation and is today a true global market leader in medical sharp devices. This is especially thanks to the new management team who has done a fantastic job in shaping and executing on the company’s strategy to become a customer-centric innovative medtech company. We believe the foundation for long-term growth now is set, and that Investindustrial will be a great partner for HTL to continue its journey.”
“Together with EQT we have embarked on an ambitious transformation journey and are experiencing an incredibly strong momentum in the business. Investindustrial is an excellent partner and long-term owner of HTL and I am truly excited about the combined opportunities and potential for HTL and PIC in the next development phase”, says Mikkel Danvold, CEO of HTL.
The transaction is subject to approval from the relevant authorities and is expected to close in Q3 2018.
EQT V and management were advised by J.P. Morgan, Kirkland & Ellis and EY.
Mads Ditlevsen, Partner at EQT Partners, Investment Advisor to EQT V, +45 23 73 38 43
EQT Press office, +46 8 506 55 334
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com
HTL-Strefa is a world-leading medical device company that innovates, develops, manufactures and provides blood micro-sampling devices and drug delivery devices for both professional care and home care segments. The modern manufacturing process and nearly 20 years of experience on the global market allows HTL to successfully ensure safety and convenience for both patients and health care professionals, while being at the forefront of industry innovation. HTL employs approximately 1,400 FTEs who are dedicated to continuously ensuring the highest quality for each of the 3.5bn products that are produced annually. In addition, HTL is continuously launching new solutions to meet the changing needs of both patients and health care professionals.
More info: www.htl-strefa.com