EQT-backed Ellab acquires Adsano in Germany

Terms of the deal were not disclosed. Adsano will be integrated with Ellab, giving the company a market presence in the DACH region. The managing director of Adsano, Reinhard Kuen, will continue as vice-president for Ellab's qualification and validation services. 

The deal comes less than a year after EQT acquired a majority stake in Ellab, which manufactures monitoring equipment, from IK Investment Partners. EQT drew equity from its Mid Market Europe Fund, which closed on €1.6bn in 2017. The fund invests in companies with an enterprise value of €100-300m. 

The company has since followed an aggressive M&A strategy, acquiring Irish companies Instrument Technology in December 2019 and QualUs in April 2020. With the three add-ons, Ellab said it has doubled its services.

According to Zoominfo, Ellab has around 1,332 employees and annual estimated revenues of $260m. 

Company
Founded in 2002 in Ravensburg, Adsano provides thermal qualification and validation services to the pharmaceutical, biotech and medical sectors in the DACH region. It employs 30 staff and also has offices in Hamburg and Basel.

People
Ellab – Peter Krogh (CEO).
EQT – Rikke Kjær Nielsen (partner).
Adsano – Reinhard Kuen (managing director)

Advisers
Ellab – Bird & Bird (legal).  

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