Palamon announces roll-over investment into Ober Scharrer

A special purpose vehicle was set up for the investment, backed by Palamon and two of its LPs: Dutch pension fund PGGM and asset manager Adams Street Partners.

Palamon sold Ober Scharrer to Nordic last year, generating a 3.6x return on its original investment. The sale was the 16th realisation from Palamon's 2006-vintage fund, Palamon European Equity II, which held a final close on €670m. 

Nordic will remain the principal manager of the investment but a Palamon representative will also sit on the board of directors.

Previous funding
Palamon acquired a majority stake in Ober Scharrer alongside the company's founders in May 2011. The transaction was thought to have an enterprise value of between €50-100m. It sold the business in a secondary buyout to Nordic in March 2018.

Company
Ober Scharrer was established in 1982 by physicians Manuel Ober and Armin Scharrer. Headquartered in Fürth, the company now has 80 facilities across Germany and 900 employees. It provides more than 85,000 treatments per year. Key services include cataract operations and intravitreal operative drug application for degenerative eye disorders, as well as non-invasive eye treatments and the diagnosis of eye disorders. The company generated revenues of €92m in 2016.

People
Palamon Capital Partners - Louis Elson (managing partner); Alex Peters (principal).

Advisers
Equity - Slaughter and May (legal); PwC (tax).

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• Topics
• Expansion
• Exits
• DACH
• Healthcare
• Nordic Capital
• Palamon Capital Partners
• Co-investments
• Germany
• Partial sale