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Private equity firm Duke Street lead the way in German medical acquisition

London-based private equity firm, Duke Street, are heading a consortium to acquire German medical device business Medi-Globe Corporation, in a deal rumoured to be in the region of €130-150m.

Duke Street, are joined in the consortium by DB Private Equity: Secondary Opportunities Fund III, Atnahs Capital, Brederode and Harwood Capital.

Medi-Globe, who are headquartered in Achenmühle, Germany, develops, manufactures and distributes disposable accessories for use in flexible endoscopy in the fields of gastroenterology and urology.

The company’s business is currently focused on Germany and France but is already making gains elsewhere in Europe, as well as in China, Japan and Brazil.

Charlie Troup, Managing Partner at Duke Street, commented: “Medi-Globe is a local hero in the German med-tech market because of its consistently strong product quality and innovation, high service levels and excellent clinical relationships.

“These attributes are also driving fast growth in emerging markets. Duke Street is excited to be making a significant investment in this large and growing sector.

“We have an excellent record of successfully building companies in the healthcare market, through value-creating acquisitions, organic growth and operational improvement.”

Dirk Steindorf, Chief Executive of Medi-Globe, added: “Medi-Globe is looking forward to working closely with Duke Street as it supports the group through its next phase of growth.

“Combining our international market opportunity and strong reputation with our new investor’s record of value creation in healthcare makes a formidable partnership.”

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