William Blair acted as the exclusive financial advisor to Duomed Group (Duomed), a portfolio company of G Square Healthcare Private Equity (G Square), in connection with the contemplated sale to Palex Medical (Palex), a portfolio company of Apax Partners (Apax) and Fremman Capital (Fremman). A put option agreement was executed on April 16, 2024, and the proposed transaction is expected to close in Q3 2024.
About the Companies
Duomed, based in Aartselaar (Belgium), is a fast-growing European MedTech distributor, with specializations across endoscopy, surgery, critical care, medical imaging, physiological monitoring, and infection control. Duomed differentiates itself in the markets it serves by offering high-quality, reliable, and sustainable solutions to its customers, combining both consumables, capital equipment, technical services, IT integration, clinical training, and education, as well as Contract Research Organization (CRO) services. Duomed has 600 plus employees and is active in 10 countries, with forecasted sales of €290 million in 2024.
G Square, founded in 2008, is a leading investment firm specializing in the healthcare sector primarily across Europe. Fueled by a deep-rooted passion for healthcare, G Square strives to generate attractive returns for its partners while contributing positively to the healthcare industry. The team is comprised of over 30 professionals with a deep understanding of healthcare systems and markets.
Palex, based in Sant Cugat del Vallès, Spain, and founded in 1955 by the Knuth family, is a company focused on the marketing, sales, and logistics of high value-added MedTech equipment and solutions in the Spanish, Portuguese, and Italian markets. The company has a strong reputation for innovation, quality and service and offers a wide product portfolio from world-leading manufacturers (600 plus partnerships) and own products across numerous therapeutic areas. Palex has 930 plus employees, with forecasted sales of €660 million in 2024.
Apax is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $77 billion. The Apax Funds invest in companies across four global sectors of tech, services, healthcare, and internet/consumer. These funds provide long-term equity financing to build and strengthen world-class companies.
Fremman is a pan-European, mid-market investment firm with offices in London, Luxembourg, Madrid, Munich, and Paris that looks to partner with successful management teams to help transform businesses from local champions to multinational sustainable leaders.
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