EMZ acquires FotoFinder Systems

EMZ bought FotoFinder in a primary buyout from the founding family. The management team has reinvested in the business. Rudolf Mayer, co-founder and main shareholder, has fully exited the business, while Andreas Mayer, co-founder, and other family members have reinvested for a minority stake Klaus Maurer, partner at EMZ, told Unquote that the management team holds one third of the business, while EMZ holds the remaining two thirds.

The sponsor invested through EMZ 9 and provided a combination of equity, debt, and mezzanine capital. EMZ 9 held a final close on EUR 1bn in July 2020, according to Unquote Data. The fund is sector agnostic and deploys equity cheques in the range of EUR EUR 30m - EUR 150m. The fund is currently 80% deployed, according to Maurer.

The GP was involved in an auction process to acquire the FotoFinder, said Maurer. He added that the business will predominantly seek organic growth opportunities but also make opportunistic acquisitions to increase its market share. According to a press release, the company will pursue international expansion, as well as focus on the development of its technology. It also intends to continue to cultivate its presence in the healthcare aesthetics and beauty market.

Maurer said the business generated sales of up to EUR 20m and EBITDA of up to EUR 5m in 2021. Maurer expects the EBITDA and sales to be up by 20% in the future, he told Unquote.

Company
FotoFinder Systems was founded in 1991 and is based in Bad Birnbach in Germany. The company provides skin visualisation technology that can detect skin cancer early for use by dermatologists, hospitals, research institutes and screening centres. FotoFinder has 100 employees.

People
EMZ Partners - Klaus Maurer (partner).
FotoFinder - Andreas Mayer (CEO).

Advisers
Vendor - Aquin (M&A); Mc Dermott Will & Emery (legal).
Equity - Cowen Europe (M&A & debt); Lupp + Partner (legal); Roland Berger (commercial due diligence); Ebner Stolz (financial & tax due diligence); Taxess (tax structuring); Shearman & Sterling (legal).

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• Topics
• Buyouts
• DACH
• Healthcare
• Buy-in/Buyout
• Germany