EQT Private Equity will sell its 20 percent stake in Ottobock to existing majority shareholder Professor Hans Georg Näder and the Näder Family, after having acquired the stake in 2017. The transaction is expected to close in the first half of the fiscal year.
In partnership with EQT Private Equity, Ottobock continued its long-term growth trajectory thanks to investments in innovation, growth, and digitalization. Since EQT’s entry, Ottobock increased sales by approximately 8 percent annually while adjusted earnings before interest, taxes, depreciation, and amortization doubled.
“We saw the huge potential that Ottobock’s purpose and market-leading role in the health tech industry offered when we invested in this ‘hidden champion’ in 2017,” said Johannes Reichel, partner, EQT Private Equity’s advisory team. “Since then, in close partnership with Hans Georg Näder and the management team, we have taken Ottobock to a new level of growth, as reflected both in the innovative new product launches with strong benefit to patients and Ottobock’s financial development. Ottobock is growing dynamically and is well-positioned to continue on this trajectory as a privately managed family business, making it the ideal time for us to exit the company.”
“Through the partnership with EQT, we have further professionalized Ottobock in recent years and developed its IPO readiness,” Näder said.” Today, we benefit from a strong foundation for the next growth phase of our company. We will now continue our successful strategy as a purely family-owned company … led by our CEO Oliver Jakobi and his strong management team.”
Global investment firm Carlyle announced that it co-led a consortium of investors to provide financing of €1.1 billion (approximately $1.2 billion USD) to Ottobock, which included supporting the Näder family’s buy back of EQT’s share.
