Deal Announcement 11/19: Medtech

PwC acted as exclusive financial advisor to the private shareholders of Scheu-Dental GmbH on the sale of a majority stake to Armira.

The Deal

The German PwC M&A team is pleased to announce the successful Closing of Project PEARL, the sale of a majority stake in Scheu-Dental GmbH and its subsidiaries (“Scheu-Dental”) to Armira. PwC acted as exclusive financial advisor to the private shareholders of Scheu-Dental on this transaction.

Based on previous projects with the shareholders in the past, PwC M&A was mandated in Mid-2018 to support the shareholders on their discussions for an ideal succession solution in the group. After thorough preparation and in-depth discussion on the optimal strategic or financial partner, the team approached a selected number of financial investors who could demonstrate a long-term investment horizon as well as a strategic angle to support the further development of the business. Due to the significant roll-over of the former shareholders, the process was catered to the compatibility of the parties involved. 

Going forward, the successful positioning of Scheu-Dental as a reliable technology and innovation partner for dental and orthodontic products and services will be further strengthened by this strategic step. Armira together with the management team aims to further drive the roll-out of Scheu’s innovative solutions around clear aligners as well as the full digitization of dental treatment processes. The new shareholders group will, therefore, continue to rely on the existing management team and the strategic orientation of Scheu-Dental as an operationally independent company with proven technological competence and the efficiency of its employees.

Transaction documents for Scheu-Dental were signed on 1st October 2019 and the transaction was closed on 13th November 2019.

Scheu-Dental GmbH

Founded in 1926, Scheu-Dental is a family-owned company with over 90 years of market presence that develops products and services in the field of orthodontics, sleep medicine and thermoforming technology. Together with its subsidiaries CA Digital, Smile Dental and a Joint Venture participation in Pro3Dure, the company is increasingly specializing in the field of digital orthodontics using digital process setups, 3D-printing as well as CAD/CAM (computer-aided design / computer-aided manufacturing). 

Armira

Armira is an entrepreneurially managed industrial holding company based in Munich that invests in Mittelstand companies in the German-speaking region. The focus is on established, profitable companies with a turnover of between EUR 50 and 500 million. Armira’s shareholders are exclusively entrepreneurs or entrepreneurial families. The Armira company portfolio currently generates sales of over EUR 1.5 billion and employs more than 8,000 people.

PwC

The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 250,000 people in 158 countries. Our global network comprises nearly 1,550 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing.

PwC M&A Germany acted as exclusive financial advisor to the shareholders of Scheu-Dental GmbH on this transaction. The transaction was led by Alexander Wenzel (Partner) and executed by an experienced team comprising Boris Hippel (Manager), Viktoria Benning (Senior Associate) and Eduard Schmidt (Associate). 

The PwC Legal team led by Nikolaus Schrader together with David Hössl and Lars Lübbers advised the majority shareholder of Scheu-Dental on all legal aspects of the transaction including preparation of transaction documents as well as negation, signing and closing support.

For more information please contact Alexander Wenzel +49 (0) 69 9585-3466.

Contact us

Martin Schwarzer

Martin Schwarzer

Partner, Mergers & Acquisitions Co-Head

Tel.: +49 69 9585-5667

Dr. Alexander von  Friesen

Dr. Alexander von Friesen

Partner, Mergers & Acquisitions Co-Head

Tel.: +49 69 9585-5487

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