Mezzanine Management sells MBL to INVL

Mezzanine Management provided a €15m combined debt and equity package through its AMC III fund in October 2016 to support the Danish company. AMC III is a 2010-vintage vehicle that closed on €200m, according to Unquote Data.

During the four-year investment period, the capital was used for geographic expansion across eastern Europe, as well as new product development, Mezzanine Management said in a statement.

As part of the deal, the company will undergo a leadership succession plan, with Martin Bichel Lauritsen, the current managing director of MBL Poland and MBL China, replacing Mogens Bichel Lauritsen as CEO of the group.

The transaction is the seventh exit for Mezzanine Management in the past 12 months. The GP notably sold Croatian contract research organisation Optimapharm to asset management firm The Rohatyn Group in May. It also fully exited Hungarian online insurance brokerage Netrisk as part of a wider sale of the business to TA Associates for €55m in January.

INVL closed its Baltic Sea Growth Fund on €165m in February. The fund primarily invests in companies based in the Baltic Sea region, deploying tickets of €10-30m, but it also considers companies based in Poland, the Nordic region, and central and eastern Europe.

Company
Founded in 1988, MBL produces wheelchairs, rollators, care beds and other rehabilitation equipment along with associated parts. The firm was set up by the Lauritsen family in Silkeborg, Denmark, where it continues to be headquartered and run by the same family. The business has production facilities in Poland and China. It employs 1,400 people globally and generated revenues of €66m in 2019.

People
Mezzanine Management – Piotr Sadowski (partner).
INVL – Nerijus Drobavičius (partner).

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