Montagu Private Equity enters exclusive negotiations to sell D.O.R.C.
London | 13 March 2019
13 March 2019 - Montagu Private Equity (“Montagu”), a leading European private equity firm, announced today that it has entered into exclusive negotiations with Eurazeo Capital to sell Dutch Ophthalmic Research Center ("D.O.R.C." or "the Company"), a leading provider of innovative instruments and equipment for ophthalmic surgery. Terms of the transaction are not being disclosed.
Established in 1983, D.O.R.C. is a leading provider of innovative instruments and equipment for ophthalmic surgery. The product range includes high precision disposable and re-usable instruments, surgical liquids and surgical machinery that is used for vitreoretinal and cataract procedures. Headquartered in Zuidland, the Netherlands, D.O.R.C. serves a global customer base including surgical centres, hospitals and physicians across the US, Europe, the mid-East, Asia and South America. The Company has more than 500 employees worldwide.
Over its five years of ownership, Montagu has significantly strengthened D.O.R.C.’s management team, helping the Company to become one of the key global players in the eye surgery market and the only platform of scale independent from corporates. During this period, D.O.R.C has achieved consistent double-digit growth and significant market share gains in Europe and the US.
Thierry Leclercq, CEO of D.O.R.C., said: "Under Montagu’s ownership, D.O.R.C. has built strong foundations to become an industry-leading player in ophthalmology sector. We would like to thank the Montagu team for all of their support over the last five years, and we look forward to starting this next chapter of the business under Eurazeo’s ownership.”
The proposed transaction will be submitted to D.O.R.C.’s workers’ council and is subject to clearance from relevant competition and regulatory authorities.
HSBC and RBC Capital Markets are acting as joint sell-side financial advisers.