BSN Medical

Global leader in medical supplies

In February 2006, Montagu led the Management Buyout of BSN medical, a 50/50 joint venture between Beiersdorf AG and Smith& Nephew plc. The business was sold to EQT in 2012 in a €1.8 billion transaction.

At the time of our acquisition BSN medical was a leading global player in the professional medical products market for general wound care, non-invasive orthopaedics and phlebology with operations in25 countries, approximately 3,400 staff and revenues of €526 million in 2005.

BSN is a text book example of a Primary Management Buyout since the company was restricted by the parents in its development. During Montagu's ownership, BSN grew its sales by over 40% and its EBITDA by 80%, and made 5 strategic acquisitions. Total staff reached 4,000 people. Innovative products reached 20% of sales, vs. 3% when we acquired BSN. This illustrates Montagu's strategy to identify and acquire businesses with strong fundamentals and market positions, and untapped growth and operational improvement potential.

Deal details

Deal type: Management Buyout Investment Year: 2006 Country: Germany Status: Realised Value: €1.03 billion Industry Sector: Healthcare