One Equity Partners has agreed to buy the Duran Group from Adcuram. No financial terms were disclosed for the transaction that is expected to close in 2015. Duran is a maker of borosilicate glass.
Frankfurt, 2 December 2014 – Funds advised by One Equity Partners (“OEP”) have signed an agreement with ADCURAM Group (“Adcuram”) to acquire the DURAN Group (“Duran”), a leading niche supplier to the life science, pharma and healthcare industry. The transaction is subject to approval from the relevant antitrust authorities and is expected to be completed in 2015. The parties have agreed not to disclose the purchase price.
Duran is a leading global manufacturer of premium borosilicate glass, a particularly chemical-and temperature-resistant special glass used primarily for laboratory glassware, in chemical processing technology and in industrial glassware. Duran generates a turnover of approximately EUR 100m with around 700 employees. With its premium brand “DURAN®”, a strong global sales network and production locations in Germany, the UK, Croatia and India, Duran is the undisputed global leader in terms of technology, quality and innovation, particularly for premium laboratory glass. Adcuram acquired Duran from Schott AG in 2005 via a carve-out.
“With our long standing experience in the life science and healthcare sector and global presence, we believe to be the right partner for management to transform Duran into the leading global supplier of attractive niches in the life science, pharma and healthcare industry by continuing to expand its market position globally as well as enlarging its product portfolio,” says Dr. Jörg Zirener, Partner and Managing Director of OEP.
“Working with the Duran management, over the last 10 years Adcuram has demonstrated great dedication, detailed business expertise and strategic intelligence in turning a non-core group business into a global market leader. For the company and for us personally as Managing Directors this was a wonderful period. We now look forward to working with OEP, as a strong international investor, to bring our development another major step forward, particularly in terms of strategy,” says Armin Reiche, Managing Director of Duran.
About One Equity Partners:
One Equity Partners (OEP) is a partnership passionate for compelling business ideas that create synergies and growth. Since inception in 2001, OEP has managed approximately $14 billion in total investments and committed capital for JPMorgan Chase & Co., and has delivered strong returns throughout this thirteen year period. During that time span OEP has proven to be an appreciated business partner for family owned companies and management teams in Europe and the Americas. OEP’s capital comes with an entrepreneurial spirit and commitment aiming to make a difference for the most valuable asset: the customer. OEP manages its business from New York, Chicago and Frankfurt and has guided numerous companies to success in recent years, including AMAG, ArthroCare, Constantia Flexibles, Mauser, MedVest, Quintiles, Süd-Chemie, Vacuumschmelze and Wright Medical.