21 Invest France announces that it has entered in exclusive negotiations to take a controlling stake in the family-run business Landanger. The closing of this primary LBO transaction, 5th investment of Fund V, should be completed in July 2019.
The Landanger Group, founded in 1947, manufactures and distributes surgical instruments for which it also offers maintenance services. This expert has managed to assert itself as a unique player in France with an international presence in nearly 60 countries.
The Group has 2 main activities and 3 prestigious brands:
• the design and distribution of surgical instruments for open and minimally invasive surgeries through the Landanger and Delacroix-Chevalier brands, the latter being recognized worldwide for its range of cardiovascular and thoracic instruments;
• the manufacture of complex ancillaries for prosthesis manufacturers through the Maire-Didier brand.
Thanks to a wide range of innovative products (7,500 SKUs), a strong commitment to quality and service and a large presence in France, the Landanger Group works with 85% of French public and private hospitals and clinics with which it has had a longstanding relationship.
With state-of-the-art technical expertise and a recognized quality of service, Landanger reached a turnover of 25.5 million euros in 2018, c. 30% internationally, in a buoyant market driven by the increasing number of surgical operations, and the growing need for specialty instruments in more and more complex procedures.
21 Invest France will accompany Landanger to strengthen its leading position in France, especially by expanding the offer through improved innovation capacity (recent launch of a new Ear, Nose and Throat range), and to accelerate its internationalization. Targeted build-ups will support the growth plan bringing synergies both in terms of products and geographic coverage, in order to create a leading international player in surgical instrumentation.
Benoit Landanger, CEO of Landanger adds: “For more than 70 years, the Landanger Group has been one of the leading experts in the surgical instrument market, with an innovation-driven strategy. We are very happy to consider new development opportunities in France and abroad with 21 Invest France. Together, all positives are gathered to pursue this success story.”
François Barbier, Deputy General Manager & Antoine Vigneron, Partner at 21 Invest France comments: “We are looking forward to starting the new stage of growth alongside the CEO, Benoit Landanger. We will be fully committed to transform the company into an international leader by relying on the promising prospects of its market, still rather fragmented.”
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