We are pleased to announce that, Sterimed (www.sterimed.fr), a leading global manufacturer of medical sterilization packaging for both hospitals and medical device manufacturers, has entered into exclusive negotiations with Amcor to acquire Amcor’s European Hospital Packaging business comprising the manufacturing and sales facility in Coulommiers (France) and sales offices in Bromeda (Germany) and Pergut (Spain) (collectively the “Business”), representing around €42 million of sales.
The Business is mainly involved in the manufacturing and distribution of flexible packaging and other products to hospitals and medical device manufacturers in Europe and internationally, with high-end recognized teams, brands and product ranges.
Sterimed has been a long-time partner of the Business, which will complement its global product offering and footprint in Europe. The Business will operate under the well-known SPS brand and will continue to operate as a stand-alone business unit within the Sterimed Group.
The transaction is subject to consultation with the Amcor Flexible SPS work council and other customary conditions. Closing is expected to take place during the course of the first quarter of 2021.
Thibaut Hyvernat, President & CEO of Sterimed, commented: “I am delighted that the SPS, Pergut and Bromeda teams will be joining the Sterimed family. The Business has a long-term entrepreneurial DNA that has produced tremendous results since its foundation, as well as a very solid position and reputation. I am sure that teamwork, cross-fertilization and complementarity of our respective businesses will generate great synergies in the future and I am looking forward to warmly welcome our more than 150 new colleagues when we will be able to complete the acquisition.”
Saïk Paugam, Partner at Sagard, concluded: “After having successfully expanded in Mexico and China with the takeover of EEE Group and Green Sail, the acquisition of Amcor’s activities is the third build-up operation for Thibaut Hyvernat and his impressive executive team since our investment in 2019. This strategic move will boost revenues around €200m, further broaden Sterimed’s unique portfolio of medical sterilization packaging solutions and consolidate its positions in Europe, while generating synergy benefits for the whole group.”
The Sterimed Group is one of the world’s leading manufacturers of medical sterilization packaging. Sterimed develops, produces, converts and markets various types of solutions such as bacterial barrier substrates and pre-formed sterilization packaging for both hospitals and medical device manufacturers, in a market in strong structural growth. Including Amcor’s European Hospital Packaging business, Sterimed will operate 9 industrial sites and 22 sales offices on all continents, generating close to €200m of sales thanks to 1,100 associates.
Sagard is a French investment fund that provides equity capital to support the development of mid-sized companies led by ambitious management teams. Founded in 2003 with the support of the Desmarais family (Power Corporation of Canada), Sagard’s investor base comprises leading industrial families as well as blue chip institutional investors. Since its inception, Sagard and its Paris-based team of 10 professionals have invested in 34 industrial and service companies in France.
PARTIES INVOLVED IN THE TRANSACTION
- Sterimed (Thibaut Hyvernat, Florence Sicault, Pierre-Emmanuel Niédrée, Romain Durrande)
- M&A advisor: Clairfield International (Olivier Le Grelle, Amaury de Cassan)
- Legal advisor: Volt & Associés (Lucas d’Orgeval, Alexandre Tron, Samuel Berrebi, Hervé Bied-Charreton)
- Strategic due diligence: Kanberi Strategy (Hugo Azerad)
- Financial due diligence: KPMG (Philippe Blanadet, Daniel Juarez Diaz, Gaëtan Le Bos)
- Legal, Tax & Labour due diligence: KPMG Avocats (Florence Olivier, Jérôme Talleux, Albane Eglinger)
- Environmental due diligence: EDP Avocats (Laurence Esteve de Palmas, Magali de Lary de Latour)
- Insurance due diligence: Marsh (Betül Ekici)
- Sagard team working with Sterimed: Antoine Ernoult-Dairaine, Saïk Paugam, Jérôme Triebel and Adrien Daudey.
- Press contact
- Stéphanie Tabouis
Publicis Consultants [email protected] Tel: 06.03.84.05.03