Ardian buys majority stake in Schwind

As part of the deal, the GP acquired a majority stake in the business from the founding Schwind family, which will retain a minority stake. The company's CEO Rolf Schwind and his management team will continue to lead the business.

Following the transaction, the company aims to use the capital injection to bolster its business internationally as well as further develop its existing products and expand its products range. The new shareholder said it is considering several acquisitions to boost the business's growth.

According to a statement, Ardian acquired its stake via its Ardian Expansion Fund IV, which held a €1bn final close in June 2016. The deal marks the fourth transaction for the vehicle, following the acquisition of orthopedic equipment producer Lagarrigue in September 2016 and Ionisos, a French developer of sterilisation treatment of medical devices, in July 2016. Prior to that, the GP acquired a stake in French point-of-sale displays producer Diam International in July 2016.

Company
Established in 1958, Schwind manufactures a laser system that treats refractive errors and corneal diseases. It also develops and distributes the product's corresponding software and services.

Headquartered in Kleinostheim, near Frankfurt, the company claims to distribute its products across 125 countries and employs a staff of 100.

People
Ardian – Dirk Wittneben, Marc Abadir (managing directors); Yannic Metzger (investment manager).
Schwind Eye-tech-solutions – Rolf Schwind (CEO).

Advisers
Equity – PwC (financial due diligence); Goetzpartners (commercial due diligence); White & Case (legal); Willkie Farr & Gallagher (legal); Taxess (tax); Aon (insurance due diligence); GCA Altium (debt).
Vendor – PwC (M&A, commercial due diligence); Weil Gotshal & Manges (legal).

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• Topics
• Buyouts
• Healthcare
• DACH
• Germany
• Ardian (formerly Axa PE)