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TA Associates completes buyout of Swedish medical device maker Elos Metech

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US private equity major TA Associates has completed the acquisition of the Nasdaq Stockholm-listed Swedish medical device maker Elos Medtech.

The firm, through EM Intressenter, made a public offer last month to shareholders of Elos Medtech to tender their shares for SEK215 per share. Share prices of the company rose to SEK200 before the announcement, almost tripling the listing price in 2008. Approximately 80% of the share capital accepted the offer.

 

Founded in 1923, Elos Medtech has operation facilities in Sweden, Denmark, China and the US serving the dental, orthopaedic and life science markets. 

Lovisa Lander, principal at TA, said, “We have followed Elos Medtech for several years and have been highly impressed by the company and its management team.”

Birker Bahnsen, managing director at TA, added, “With a focus on innovation and precision, Elos Medtech has proven highly adept at meeting the varied demands and requirements of its target markets with turnkey solutions that add substantial value,”

“In line with the unanimous recommendation by the company’s board of directors, we believe that TA is well placed to support the investments required in the next phase of Elos Medtech’s journey. As long-term investors, we welcome the opportunity to help the company achieve its strategic goals and reach its full potential.”

TA Associates was also reported to be in talks with FTSE 100-listed engineering giant Smiths Group earlier in the month for a £2bn takeover approach for the ventilator maker’s medical division.

The firm closed its fourteenth flagship fund on its $12.5bn hard cap and TA Select Opportunities Fund II on its hard cap of $1.5bn last month, five months after starting the fundraising in January.

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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/ta-associates-completes-buyout-of-swedish-medical-device-maker-elos-metech.html

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