ECM acquires MediFox Group

ECM's investment in MediFox will see the full departure of the company's founder, while the existing management will invest for a 'significant' minority stake. The company plans to expand by gaining customers in Germany and developing its specialist software products.

MediFox's software has a 40% market share in the outpatient segment of elderly care. While intending to build on that business, MediFox will increasingly target residential care and expects to be able to increase its exposure post-investment. 

MediFox was ECM's second investment from its new fund GEP IV, which closed in July last year. The GP previously invested from its €230m fourth fund in March this year when it acquired auto parts manufacturer Bergmann Automotive. GEP IV's target companies typically have enterprise values of €20-100m.

Company
Founded in Hildesheim in 1994, MediFox develops software for use in care facilities as well as solutions for servicing elderly outpatients. The group is made up of MediFox GmbH (a software developer), BFS Abrechnungs GmbH (a specialist accounting service) and CareNavigator GmbH (a web portal for patients, doctors and care facilities). The software business currently has around 5,000 customers.

People
Axel Eichmeyer led the deal as managing director at ECM, alongside Florian Kähler, Alexander Schönborn and Florian Thelenberg. Christian Städtler and Thorsten Schliebe are CEOs of MediFox.

Advisers
Equity – KPMG (Financial due diligence, tax); SJ Berwin (Corporate finance); Allen & Overy (Legal); Rothgordt & Cie (Commercial due diligence).
Vendor – Alliance Merger & Acquisition (M&A); Renzenbrink Raschke von Knobelsdorff Heiser (Legal).

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• Topics
• Buyouts
• DACH
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• Germany
• ECM Equity Capital Management