Swiss investment company Capvis has acquired the Ondal Group in Hünfeld near Fulda. Ondal produces pendant systems for medical applications.
Swiss investment company Capvis has acquired the Ondal Group in Hünfeld near Fulda, Germany. With more than 500 employees, Ondal is the independent world market leader in the production of pendant systems for medical applications. In 2011-2012, it had a turnover of approximately 73 million euros. Ondal manufactures its medical systems primarily in Germany, with final assembly plants in the United States and China as well.
Capvis currently has holdings in 12 companies with a total of 17,000 employees and a total annual turnover of more than three billion euros. Its portfolio includes safety technology supplier BARTEC, machinery manufacturer Benninger, kitchen and household appliance manufacturer WMF and Kaffee Partner. According to Capvis partner Eric Trüeb, the Swiss investment firm would like to drive Ondal’s global expansion “in order to further develop its leading worldwide position as a supplier to major international medical technology companies.”
Andreas Mühlenbeck, managing director of Ondal, is pleased with the new owners, “because Capvis has been demonstrating how to successfully develop mid-sized companies for more than 20 years. On top of that, we are convinced by their first-rate expertise in the medical technology industry. Together with Capvis, we would now like to reach the next stage in our development.” Other companies the investment firm has helped grow both domestically and abroad include hearing aid manufacturer Phonak/Sonova, insulin pump manufacturer Disetronic and Remp, a laboratory supply company. To Mühlenbeck, the targeted development of BARTEC, a safety service provider, is a good example of how an investment firm can help a mid-sized company like Ondal to position itself better and more successfully in a high-competition environment.
Christoph Röer, CEO of Ondal’s North America business, is convinced that with the support of Capvis, the company will be able to continue the double-digit growth it has enjoyed over the past ten years. “We still see major potential in China, Brazil and especially the United States, the world’s largest medical technology market. We want to tap that potential together with Capvis,” said Röer.
The company has requested approval from the anti-trust authorities in Germany and Austria which is, according to Capvis partner Trüeb, “not problematic.”
The Ondal Group is a leading manufacturer of high-quality mechanical and electromechanical products and systems. The Ondal brand name stands for proven expertise in two product areas: pendant systems for medical and industrial applications and bundling and taping machines for cable harnesses. The group employs more than 500 people at facilities in Hünfeld (Germany), Richmond (United States) and Shanghai and Suzhou (China).
Ondal Medical Systems GmbH is based out of Hünfeld and has 40 years of international experience in the development and manufacturing of pendant systems for use in operating rooms, intensive care units and outpatient units, such as diagnostic centers. As an original design manufacturer, Ondal works exclusively with medical device manufacturers. In addition to its standard portfolio of pendant systems, Ondal also develops wholly new product solutions for medical technology, beginning from the initial idea to global market approval. Ondal Medical Systems GmbH is represented worldwide by offices in the United States and China.
Capvis is Switzerland’s leading investment firm and one of the most active investors in German-speaking Europe. Capvis has a current fund volume of 600 million euros and mainly acquires holdings of leading, mid-sized companies. Its goal is to work together with the management to release long-term sustainable potential and write successful business stories. Since 1990, the Capvis team has carried out 42 transactions totaling more than three billion euros. Capvis has gone public with nine companies and has been named Switzerland’s best investment company by the international press on several occasions.