M&A Deal Summary

Smile Invest Acquires Oldelft Ultrasound

On March 22, 2019, growth capital firm Smile Invest acquired medical products company Oldelft Ultrasound from GIMV

Acquisition Highlights
  • This is Smile Invest’s 2nd transaction in the Medical Products sector.
  • This is Smile Invest’s 3rd transaction in the Netherlands.

M&A Deal Summary

Date 2019-03-22
Target Oldelft Ultrasound
Sector Medical Products
Buyer(s) Smile Invest
Sellers(s) GIMV
Deal Type Secondary Buyout

Target

Oldelft Ultrasound

Delft, Netherlands
Oldelft Ultrasound is a manufacturer of transesophageal echocardiography (“TEE”) probes. Oldelft offers quality TEE ultrasound probes that are used in the adult, paediatric and neonatal cardio markets for diagnosis and monitoring. Oldelft Ultrasound was established in 1939 and is based in Delft, Netherlands.

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Buyer(S) 1

Buyer

Smile Invest

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2017
PE ASSETS 350M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Smile Invest is a growth capital investment firm focused on the software, technology, healthcare, and consumer products/services sectors. The Firm targets opportunities across Western Europe, with an emphasis on companies in the Benelux region. Smile Invest will consider both majority or minority situations and seeks to commit €5 to €50 million in companies with up to €100 million of revenue. Smile Invest was formed in 2017 and is headquartered in Linden, Belgium.


DEAL STATS #
Overall 3 of 17
Sector: Medical Products M&A 2 of 3
Type: Secondary Buyout M&A Deals 1 of 4
Country: Netherlands M&A 3 of 12
Year: 2019 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-31 Rovers Medical Devices

Oss, Netherlands

Rovers Medical Devices is a designer, developer, and manufacturer of all medical (cancer screening) devices. Rovers medical devices can be used for cytological analysis, bacteriological-, HPV-, viral- and DNA testing. Rovers Medical Devices was established in 1982 and is based in Oss, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-09 Microflor

Lochristi, Belgium

Microflor is active in breeding and propagation of tropical plants with a focus on Phalaenopsis orchids. The company has unique expertise in in-vitro propagation and breeding technologies that resulted in an extensive proprietary plant genetics portfolio of over 160 commercially available varieties and over 1,000 varieties under development. The company operates state-of-the-art labs and production facilities in Belgium and Slovakia from which it delivers young plants across Europe and the Americas. Microflor is based in Lochristi, Belgium.

Buy -

Seller(S) 1

SELLER

GIMV

Antwerp, Belgium

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

GIMV is a Belgium based public investment company focused on private equity and venture capital investments in tech-based businesses. GIMV's private equity practice operates through its Corporate Investment unit and targets management buyouts, buy-ins, and growth capital financings of companies with annual sales between EUR15 and EUR150 million. For buyout opportunities GIMV generally takes a majority stake in businesses and for growth capital needs, GIMV takes a minority position. GIMV does not invest in publicly held companies or turnaround situations. GIMV's geographic focus is within Belgium, Netherlands, Germany, and France. GIMV also invests in Russia through Eagle Capital Partners, a partnership with KBC Private Equity. GIMV was formed in 1980 and is headquartered in Antwerp with additional offices in The Hague, Frankfurt, Munich, and Paris.


DEAL STATS #
Overall 84 of 111
Sector: Medical Products M&A 3 of 4
Type: Secondary Buyout M&A Deals 21 of 30
Country: Netherlands M&A 22 of 29
Year: 2019 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-18 Coolworld Rentals

Waalwijk, Netherlands

Coolworld Rentals is an international full-service rental specialist in cooling and heating equipment. Wide range of solutions, products, and services permits Coolworld to respond adequately and flexibly to the increasingly variable demand for cooling and heating solutions to cover, for example, capacity problems, the renovation or overhaul of permanent equipment, test setups, seasonal peaks or calamities. Coolworld Rentals was founded in 1993 and is based in Waalwijk, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-28 Smart Battery Solutions

Kleinostheim, Germany

Smart Battery Solutions develops, manufactures and sells lithium-ion battery systems in the low voltage segment up to 60 volts. The product range covers the entire value chain, from the customer-specific assembly of externally produced batteries to the development and production of intelligent energy storage systems and charging technologies. Smart Battery Solutions was founded in 2010 and is based in Kleinostheim, Germany.

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