NORD Holding sells its majority stake in hg medical to Astorg Mid-Cap

05.05.2023

NORD Holding sells its majority stake in hg medical to Astorg Mid-Cap

Raisting/Hanover, May 5th 2023 - NORD Holding Unternehmensbeteiligungsgesellschaft mbH (“NORD Holding”) has sold its majority stake in hg medical, a leading end-to-end contract manufacturer of high-quality orthopedic implants, to Astorg Mid-Cap (“Astorg”).

hg medical is a leading provider of high-quality orthopedic implants specializing in lower extremities, upper extremities and in the spine sector. With its state-of-the-art facilities in Germany and the United States the company sets itself apart as a distinguished player in the extremities segment. The comprehensive range of services is designed to cater to the ever-evolving needs of its customers, including the design and development, prototyping, validation, and production of complex, high-quality implants.

The company works closely with medical professionals and clinics to ensure that its equipment meets the requirements of patient care. Its deep engineering expertise, high-quality manufacturing, and exceptional customer service earned the company a strong reputation in the market. Through its partnerships with fast-growing challenger and blue-chip OEMs and its outstanding customer service, hg medical was able to reach exceptional growth over the last 16 years.

With the acquisition of hg medical by NORD Holding in 2020, it was possible to position hg medical as a global leader in the orthopedic implants industry, while it was led by CEO and founder Johannes Hagenmeyer, COO Craig Bluett and CFO Jürgen Steffensen.

As Andre Seidel, Partner of NORD Holding states: “We are extremely proud and impressed by the development of hg medical over the last years. The NORD Holding healthcare team, NORD Holding operations team and management took hg medical to the next level by enhancing financial transparency, optimizing processes and increasing production capacity for future growth. We are also very happy as hg medical was one of our first investments based on our dedicated healthcare sector approach.”

With increasing global demand for orthopedic implants, hg medical is well positioned to continue its growth path and maintain its position as a leading player in the industry. The investment from Astorg will enable the company to further expand its capacity and service offering to meet the growing demand for outsourced manufacturing in the orthopedic sector.

NORD Holding was advised by TD Cowen (M&A), Milbank (legal), Alvarez & Marsal (commercial), Deloitte (financial), Flick Gocke Schaumburg and Alvarez & Marsal (tax), and TAUW (ESG).

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About hg medical

hg medical, located in Raisting, Germany, is a leading contract manufacturer of high-quality orthopedic implants specializing in lower extremities, upper extremities and in the spine sector. hg medical’s customers design products to improve the quality of life for many patients all over the world. hg medical supports them to make their ideas succeed in a highly competitive environment.

For more information, please visit: www.hg-medical.de

About Astorg

Astorg is a European private equity firm with over €20 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market-leading, global companies headquartered in Europe, providing them with the strategic guidance, governance, and capital they need to achieve their growth goals. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, software and technology, business services and technology-based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan, and Luxembourg.

With a 50-year history and assets under management of € 3.0 billion NORD Holding is one of the leading private equity asset management companies in Germany. The focus is on the business areas of direct investments and fund investments.

The focus is on the business areas of direct investments and fund investments. The focus of the direct investments business is on structuring and financing of corporate succession models, the acquisition of group divisions/subsidiaries and the expansion financing of medium-sized companies. In contrast to most other financial investors, which only manage funds with a limited term, NORD Holding acts as a so-called "Evergreen Fund" with no term restrictions and invests from its own balance sheet.

The company is currently involved in more than 15 companies in Germany and other German-speaking countries. The Fund Investments division targets the small-cap segment of the European private equity market and focuses on primary, secondary and co-investments. NORD Holding concentrates strongly on buyout managers newly established on the market, operational investment strategies and regularly acts as an anchor investor.

On behalf of NORD Holding, the transaction was managed by André Seidel, Jan-Philipp Wilckens, David Wössner and Nicolas Eidenmüller.

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