BPE sells Domilens to Odewald’s Polytech

Domilens and Polytech will now merge their activities into new company Polytech-Domilens-Gruppe. Odewald provided fresh capital to Polytech to finance the acquisition. The GP aims to continue the buy-and-build strategy that it has followed since acquiring Polytech. The company acquired Swiss medical equipment supplier Huco Vision this year.

BPE originally acquired Domilens in 2010 from Swiss medical equipment supplier Staar Surgical, a subsidiary of US-based Staar Surgical Company, in a management buy-in. The firm was 74% owned by BPE while senior management held a 26% stake, according to unquote" data. Sparkasse Holstein provided debt facilities for the transaction while equity was invested via BPE's BPE2 Private Equity vehicle, which held its €100m final close in June 2005.

In 2011, Odewald bought a majority stake in Polytech from the Reese family via its Odewald KMU vehicle, which held its final close on more than €150m in December 2008. The debt package for the investment was provided by DZ Bank and Volksbank Odenwald.

Company
Domilens distributes medical supplies for the ophthalmology and ophthalmic surgery sector, with a focus on intraocular and implantable collamer lenses and surgical eye correction devices.

Founded in 1987 and based in Hamburg, the company now employs 50 staff. The business was taken over by Staar Surgical in 2000.

People
Andreas von Loessl joined Domilens as CEO in 2010 and took part in the acquisition of the firm. Frank Skowronek and Walter Schwab are managing partners of Polytech and will continue to manage Polytech-Domilens, alongside von Loessl. Heiko Arnold is a partner at Odewald.

Adviser
Vendor – Lincoln International (M&A).

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• Topics
• DACH
• Healthcare
• Exits
• Expansion
• Germany
• Odewald & Compagnie
• BPE Unternehmensbeteiligungen (BPE Private Equity)
• Acquisition finance
• Trade sale