Monitor Clipper Partners, along with Augusto Orsini, have jointly acquired Sengewald Klinikprodukte GmbH. Financial terms were not announced. Rohrdorf, Germany-based Sengewald produces drapes, gowns, and custom procedure trays for surgical theaters.
Monitor Clipper Partners (“MCP”), a private equity firm with offices in Cambridge, Massachusetts and Zurich, Switzerland, and Augusto Orsini, an executive with over 25 years of experience in the surgical theater solutions market, today announced their joint acquisition of Sengewald Klinikprodukte GmbH (“SKP” or the “Company”). Based in Rohrdorf, Germany, SKP is a leading international producer of drapes, gowns, and custom procedure trays for surgical theaters. The Company’s products are currently used in approximately one and a half million surgical interventions annually throughout the world. The transaction includes SKP’s subsidiaries, MSP Schmeiser GmbH (based in Horb am Neckar, Germany) and Texsan Medical EOOD (based in Sandanski, Bulgaria.) Concurrent with the acquisition, the new owners have also announced that Mr. Dieter Gruber has been named as Managing Director (Geschaeftsfuehrer) of SKP.
The acquisition was completed through a new parent company formed by MCP and Mr. Orsini, STS Medical Group S.à r.l., based in Luxembourg (www.stsmedicalgroup.com). STS Medical Group, which will be run by Mr. Orsini, will pursue a strategy to acquire additional businesses that provide products and services to surgical theaters, with SKP acting as the cornerstone acquisition for the group.
“SKP is a successful international medical products business with an over 30-year history of high-quality manufacturing, and our primary goal is to continue to meet the growing needs of SKP’s existing customer base. Moreover, the Company provides an ideal platform for STS Medical Group to develop an innovative player in the surgical theater solutions market,” said Mr. Orsini, who is also a major shareholder of AEM Biotech Srl, a healthcare investment and consulting firm. “Building on SKP’s strong operational capabilities, we believe that we can pursue a strategy of aggressive international growth.”
“MCP’s objective is to utilize our significant experience investing in the health care sector, as well as our considerable financial resources, to build a dynamic and rapidly growing competitor in the surgical interventions sector,” commented Peter Laino, Partner at MCP. “We believe that Augusto Orsini is the ideal partner to execute this strategy with us and that there are numerous opportunities to increase the value of SKP itself, as well as generate synergies from additional future acquisitions at the STS Medical Group level.”
About Monitor Clipper Partners
MCP was formed in 1998 in partnership with the Monitor Group (“Monitor”), a leading international strategy consulting firm founded in 1983 with approximately 1,000 professionals in 29 offices worldwide. MCP targets growth-oriented businesses with strong management teams that can benefit from the firm’s unique capabilities and proprietary relationship with Monitor to generate superior risk-adjusted private equity returns in management buyouts and late-stage growth equity investments. With offices in Boston and Zurich, MCP currently manages over US$2.0 billion of capital in North America and Western Europe.
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