Apposite acquires OrthoD from The Riverside Company

Nicole Tovstiga
29 March 2018

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Apposite Capital has acquired OrthoD, a UK-based manufacturer and distributor of medical products and implants, from The Riverside Company.

The deal marks the fifth investment for Healthcare-focused GP Apposite's latest vehicle Apposite Healthcare Fund II, which held a first close in 2016 on £70m.

Apposite intends to support the firm's CEO and management to accelerate the growth of the business. As part of the growth strategy, OrthoD plans to launch new sport medicine products and strengthen its distribution channels globally.

Riverside acquired the company in March 2008 and completed two add-on acquisitions in 2010, including Eska Implants in Lübeck, Germany, and Orthomed in Nice, France.

Company
Created in 1984 and headquartered in Gloucestershire, OrthoD is a provider of specialist products and implants for orthopaedic surgery. The company's products include bone cement management systems, wound drainage and fixation devices for knee and shoulder surgery. The company has distribution channels in 40 countries and employs a staff of 100.

People
Apposite Capital – Rory Pope (partner).
OrthoD – Daniel Bee (CEO).

Advisers
Acquirer – Alvarez & Marsal (financial due diligence, tax); Charles Russell Speechlys (legal); Lambourn Associates (commercial due diligence); Wyvern Partners (debt advisory).
Vendor – Jones Day (legal); KPMG (financial due diligence, tax); LEK Consulting (commercial due diligence); William Blair (corporate finance).
Management – Liberty Corporate Finance (corporate finance); Osborne Clarke (legal).