SHS acquires insolvent Puracon

The GP was interested in the company for a while, but could not agree on a price with the previous owners during negotiations at the start of 2015. When Puracon went into administration in October 2015, the GP made a second, successful bid for the company and has now acquired it in an all-equity transaction. The turnaround deal is unusual for the investor, which usually does expansion financing, changes in shareholder structures and successor situations.

The new owner stated that Puracon is operating in a growing market fuelled by regulatory changes in the medical sector. It hopes to grow the insolvent company into a successful business by expanding its service offering, among other measures.

SHS is currently investing from its fourth fund, which closed on €125m in May 2015, exceeding its €100m target. The vehicle is more than twice the size of its predecessor. SHS hopes to have the vehicle invested within the next two years.

Company
Founded in 2003 and based in Rosenheim, Puracon specialises in the cleaning, packaging, sterilisation and logistics of medical devices. It also focuses on the certification and validation of processes.

People
SHS – Uwe Steinbacher (managing partner)
Puracon – Sascha Kocis (member of the board)

Advisors
Equity – Michael Roos Rechtsanwaltsgesellschaft, Michael Roos (Legal); Maikowski&Ninnemann, Fabian Sokolowski (Legal); Böhret Sehmsdorf, Michael Böhret (Financial due diligence).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Industrials
• DACH
• Germany
• Turnarounds