UDINE, Italy, Sept. 25, 2023 /CNW/ — EQT Non-public Fairness broadcasts the sale of LimaCorporate to Enovis. With this transaction, LimaCorporate will grow to be a part of the NYSE-listed Enovis group in a strategic mixture that creates a world chief within the orthopaedic {industry}.
Based in 1945 by the Lualdi household and headquartered in San Daniele del Friuli, Italy, LimaCorporate is a world orthopaedic implant producer. Its heritage of innovation is mirrored in its industry-leading know-how in additive manufacturing, corresponding to its proprietary Trabecular Titanium (TT) expertise. LimaCorporate has grown over time to grow to be one of many main European orthopaedic corporations, increasing its product portfolio primarily via in-house innovation and the development of its 3D printing capabilities.
LimaCorporate, along with EQT, has been investing to solidify its core providing and enhance manufacturing capability within the face of quickly rising demand, whereas additional growing expertise to execute the market enlargement, with accelerated international progress. In 2022, the corporate reached revenues of EUR 249 million and it’ll proceed to deliver crucial innovation to surgeons and sufferers as a part of Enovis.
By changing into a part of the NYSE-listed Enovis group, LimaCorporate will profit from a higher international community and new business alternatives because of the complementarity of the 2 corporations’ product portfolios and market penetration. New investments will speed up the completion of the brand new manufacturing constructing on the Headquarter in San Daniele del Friuli. The native manufacturing vegetation will proceed to assist the worldwide enlargement of the Group.
Matteo Thun, Accomplice inside EQT Non-public Fairness’s Advisory Workforce, stated, “LimaCorporate is a real instance of subtle engineering and expertise designed to empower surgeons and to enhance sufferers’ lives. EQT is proud to have been a part of the Firm’s journey and I need to thank the administration group and all the workers of LimaCorporate, who work enthusiastically every single day to deliver life-changing merchandise to sufferers all over the world. It’s thrilling to see a world participant like Enovis becoming a member of forces with LimaCorporate in such a strategic mixture”.
Massimo Calafiore, CEO of LimaCorporate, stated, “I’m happy with the worth we’ve created over time and particularly within the final twelve months. I wish to personally thank all Lima Folks for the power, enthusiasm, and motivation they at all times demonstrated of their on a regular basis work. Moreover, I wish to thank EQT for having been a supportive associate in investing in our firm and contributing considerably to LimaCorporate’s progress. The relentless work of this Management Workforce and the whole group over the last 12 months, aimed toward serving to sufferers and creating worth, made attainable for Lima to face up as one of the thrilling corporations within the house. The brand new mixture with Enovis is a key milestone in our journey and I’m trying ahead to seeing the mixed Group proceed to develop progressive merchandise for surgeons to revive the eMotion of Movement in our sufferers”.
Matt Trerotola, CEO of Enovis stated, “We’re extraordinarily excited for the proficient LimaCorporate group to affix the Enovis household. From the start, it was clear that we share a mutual ardour for utilizing surgical innovation to drive improved affected person outcomes, and collectively we are going to proceed to design and ship best-in-class merchandise and applied sciences. This strategic mixture expands and strengthens our geographic attain and orthopedic management all over the world.”
The transaction is topic to customary situations and approvals and is predicted to shut in early 2024. In reference to the transaction, Enovis intends to redeem, repay, and/or cancel sure indebtedness of LimaCorporate in full on or round closing, together with LimaCorporate S.p.A.’s senior secured floating fee notes due 2028 and the group’s current revolving credit score facility.
About LimaCorporate
LimaCorporate is a world orthopedic firm, targeted on digital innovation and patient-tailored {hardware}, which advances patient-centered care. Its pioneering technological options are developed to empower surgeons, and to enhance affected person outcomes from joint alternative surgical procedure. Its major focus is on offering reconstructive and custom-made orthopedic options to surgeons, enabling them to enhance the standard of lifetime of sufferers by restoring the enjoyment of motion.
Headquartered in Italy, the corporate operates instantly in over 20 international locations all over the world. LimaCorporate provides merchandise starting from massive joint revision and first implants, to finish extremities options, together with fixation.
For added info on the Firm, please go to www.limacorporate.com
Limacorporate spa
By way of Nazionale, 52
33038 Villanova di San Daniele
Udine – Italy
t: +39 0432 945511
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About Enovis
Enovis Company (NYSE: ENOV) is an innovation-driven medical expertise progress firm devoted to growing clinically differentiated options that generate measurably higher affected person outcomes and remodel workflows. Powered by a tradition of steady enchancment, international expertise and innovation, the Firm’s intensive vary of merchandise, companies and built-in applied sciences fuels energetic life in orthopedics and past. The Firm’s shares of frequent inventory are listed in the USA on the New York Inventory Alternate below the image ENOV. For extra details about Enovis, please go to www.Enovis.com.
This announcement constitutes a public disclosure of inside info by LimaCorporate S.p.A. below Regulation (EU) 596/2014 and any related implementing guidelines and rules. Upon the publication of this announcement, this inside info (as outlined in Regulation (EU) 596/2014) is now thought of to be within the public area. This announcement is being made on behalf of LimaCorporate S.p.A. by Michele Marin Firm Secretary.
SOURCE Limacorporate S.p.A
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