Monitor Clipper Partners and Augusto Orsini, an executive with over 25 years of experience in the surgical theater services market, have acquired Sengewald Klinikprodukte (“SKP”), a producer of drapes, gowns, and custom procedure trays for surgical theaters. SKP is owned by Pregis Corporation, a portfolio company of AEA investors which it acquired in October 2005.
SKP’s products are currently used in approximately one and a half million surgical interventions annually throughout the world. The transaction includes SKP’s subsidiaries, MSP Schmeiser GmbH (based in Horb am Neckar, Germany) and Texsan Medical EOOD (based in Sandanski, Bulgaria.) With the closing of the acquisition of SKP by MCP, Mr. Dieter Gruber has been named as Managing Director of SKP. SKP is based in Rohrdorf, Germany (www.sengewald.de).
The acquisition was completed through a new parent company formed by MCP and Mr. Orsini, STS Medical Group. The new company, which will be run by Mr. Orsini, will pursue a strategy to acquire additional businesses that provide products and services to surgical theaters. STS is based in Luxembourg (www.stsmedicalgroup.com).
“MCP’s objective is to utilize our significant experience investing in the health care sector, as well as our considerable financial resources, to build a dynamic and rapidly growing competitor in the surgical interventions sector,” said Peter Laino, Partner at MCP. “We believe that Augusto Orsini is the ideal partner to execute this strategy with us and that there are numerous opportunities to increase the value of SKP itself, as well as generate synergies from additional future acquisitions at the STS Medical Group level.”
Monitor Clipper Partners invests between $10 million and $70 million in management buyouts and late stage growth equity investments. Sectors of interest include natural/organic foods, specialty retail, health care services, gaming, logistics, mortgage technology, marketing services, financial services, and metals. The firm was founded in 1998 and has invested approximately $1.7 billion in equity since its formation. Monitor Clipper Partners is based in Cambridge, MA with an additional office in Zurich, Switzerland (www.monitorclipper.com).
“SKP is a successful international medical products business with an over 30-year history of high-quality manufacturing, and our primary goal is to continue to meet the growing needs of SKP’s existing customer base. Moreover, the company provides an ideal platform for STS Medical Group to develop an innovative player in the surgical theater solutions market,” said Mr. Orsini, who is also a major shareholder of AEM Biotech, a healthcare investment and consulting firm. “Building on SKP’s strong operational capabilities, we believe that we can pursue a strategy of aggressive international growth.”
Pregis Corporation is a provider of protective packaging materials and systems for a variety of consumer and industrial market segments including food, beverage, healthcare, medical devices, agricultural, e-commerce, retail, automotive, furniture, electronics, construction and military/aerospace. Pregis currently operates 21 facilities in 10 countries in North America and Europe and is based in Deerfield, IL (www.pregis.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-19-12