EQT Private Equity to invest in 3Shape, a global leader in digital dentistry
EQT Private Equity to acquire a minority stake in 3Shape, a global leading player and innovator in digital dentistry focused on intra-oral scanners, CAD and CAM software for dental clinics and the dental lab market
3Shape’s products are at the forefront of driving digitalization of dentist workflows, reducing material consumption and improving preventive care and patient outcomes
3Shape will leverage the expertise from EQT’s in-house digitalization team, global healthcare sector team, and global advisory network, in its next chapter of growth, focusing on continued international expansion and roll-out of additional digital services
EQT is pleased to announce that the EQT IX fund (“EQT Private Equity”) has agreed to acquire a 20 percent stake in 3Shape (the “Company”) from its founders, who will remain majority shareholders in the Company. Together with the founders and management, EQT Private Equity will support and accelerate execution of 3Shape’s strategic vision to continue to lead the digitalization of the global dental industry.
Based in Copenhagen, Denmark, 3Shape is a global leader in digital dentistry and provides state of the art intra-oral scanning solutions, CAD (Computer Aided Design) and CAM (Computer Aided Manufacturing) software for dentists and dental laboratories in over 100 countries. The Company was founded in 2000 and employs more than 1,900 people in Europe, Americas and Asia, of which approximately 500 sit in R&D.
3Shape operates in a highly attractive sub-segment of the Dental Equipment and Software market growing at around 15 percent per year, driven by the digitalization of dental workflows to provide improved and more efficient care. The market is supported by long-term secular growth drivers including an aging population, higher disposable income, and increasing demand for aesthetic treatments. 3Shape is uniquely positioned at the nexus of the digital workflow to drive the digital transformation, and thereby improving patient care and reducing the environmental footprint of analogue supply chains and processes.
EQT Private Equity will support 3Shape’s vision to further internationalize and drive significant global growth while continuing to innovate and deliver unique digital solutions globally. The Company will be able to leverage and benefit from the full EQT platform, including EQT’s in-house digital teams, its global healthcare sector team, the broad experience from EQT’s advisory network, as well as strong ESG capabilities, to support 3Shape’s continued growth journey.
Mads Ditlevsen, Partner within EQT Private Equity’s Advisory Team, commented, “Having followed 3Shape closely for more than a decade, we are highly impressed with its high pace of innovation and ability to drive the digitalization of the dental industry, cementing its position as a global market leader. We see significant global potential for 3Shape and EQT looks forward to contributing to its continued development in close collaboration with its founders, board and the management team.”
Michael Bauer, Partner and Co-Head of Healthcare within EQT Private Equity’s Advisor team, added, “We are very excited about the opportunity to partner with the 3Shape team and take an active role in its next growth phase. This investment is a testimony to EQT’s healthcare strategy and dedication to invest in global leading healthcare companies within attractive high-growth subsectors, which 3Shape is a perfect example of.”
Jørgen Jensen, Chairperson of 3Shape commented, "We are pleased with the confidence that EQT has shown us by investing a substantial amount in becoming a co-owner of the company. This long-term partnership will strengthen 3Shape and help us deliver on our vision of continued innovation, and thereby delivering unique digital solutions for the global dental industry. At the same time, this investment from such an esteemed investor confirms the strength of 3Shape's business model and the company's very exciting future.”
Jakob Just-Bomholt, CEO of 3Shape, added, “EQT will undoubtedly contribute knowledge and experience to support 3Shape’s continued growth journey. We have great ambitions, and we will continue to be the world leader in digitizing dental care. Our scanners are used by more than one million patient scans each month, and this number will increase significantly going forward. With our technology, dentists can effectively automate and digitize work flows, while offering diagnostic services that can prevent dental problems. We will do this, among other things, through our next-generation technology and our new 3Shape Unite platform. There is significant potential to deliver digital services and products to dentists around the world and 3Shape is in a unique position to capture the potential and continue to strengthen our position as the market leader.”
EQT Private Equity was advised by FIH Partners (M&A), Accura (Legal), EY (Financial & Tax), Ringstone (Technology), and The Footprint Firm (ESG). The transaction is expected to close during Q1 2022.
With this transaction, EQT IX is expected to be 75-80 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).
EQT Press Office, firstname.lastname@example.org, +46 8 506 55 334