Gyrus Capital acquires LRE Medical from KPS-backed AIS Global

LRE has been part of AIS Global since 2004, which in 2019 became a portfolio company of KPS Capital Partners, a special situations investor. 

The business unit was initially brought to market as early as 2021, according to a report from Unquote's sister publication Mergermarket, with Capiton, SHS and Deutsche Beteiligungs AG expected to make bids at the time. 

The transaction is expected to close in 3Q23. 

Gyrus said in a statement that the carve-out represents a central pillar of its investment strategy, adding that future growth will be driven by a shift in bringing diagnostics closer to the patient.

The sponsor closed its inaugural fund, Gyrus Principal Fund, in April 2021 on EUR 400m, alongside a smaller co-investment vehicle. It invests in complex transactions with enterprise values in the EUR 50m to EUR 500m range.

It recently sold a majority stake in management consultancy dss+ to Inflexion, earning aN 8.6x return, and has also hired Rothschild to sell speciality pharma company Essential Pharma, as reported by Mergermarket. 

Company
Headquartered in Nördlingen, Germany, LRE Medical provides engineering and manufacturing systems for medical and life science diagnostic equipment, supporting a global customer base.

People
Gyrus Capital - Robert Watson (managing partner), Guy Semmens (managing partner). 
LRE Medical - Jürgen Neumann (president). 

Advisors
Vendor (KPS) - Lincoln International (M&A); Paul, Weiss (legal) 
Equity - Deloitte (M&A); Candesic (commercial due diligence); Baker McKenzie (legal); DSS+ (ESG due diligence).

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• Topics
• Healthcare
• Exits
• DACH
• Buyouts
• Gyrus Capital
• KPS Capital Partners
• Germany