EQT Private Equity Sells Stake in Ottobock to Majority Shareholder Professor Hans Georg Näder

(IN BRIEF) EQT Private Equity has announced the sale of its 20% stake in Ottobock, the leading provider of wearable human bionics solutions, to Professor Hans Georg Näder and the Näder Family. Since EQT’s investment in 2017, Ottobock has experienced significant growth, with annual sales increasing by approximately 8% and adjusted EBITDA doubling. This growth was driven by investments in innovation, digitalization, and expansion of the global patient care network. With the sale, Ottobock is poised to continue its growth trajectory as a privately managed family business, building on the strong foundation established during EQT’s partnership.

(PRESS RELEASE) STOCKHOLM, 14-Mar-2024 — /EuropaWire/ — EQT is pleased to announce that the EQT VII fund (“EQT Private Equity”) has agreed to sell its 20% stake in Ottobock (the “Company”), the global leader in wearable human bionics solutions, to existing majority shareholder Professor Hans Georg Näder and the Näder Family.

Founded by Otto Bock in 1919, the Company has developed innovative fitting solutions for people with limited mobility for more than 100 years. As a “human empowerment company”, the Company strengthens freedom of movement, quality of life and independence. Ottobock is headquartered in Duderstadt, Germany, and employs over 9,000 people. With innovative strength, outstanding technical solutions and services in the fields of prosthetics, orthotics, neuro mobility and patient care, Ottobock empowers people in 135 countries to live their lives the way they want to.

EQT Private Equity acquired a 20% stake in Ottobock in June 2017 with a vision to accelerate growth, invest in innovation and digitization, and expand the global patient care network. Together with Professor Hans Georg Näder and the Company’s management, EQT Private Equity has delivered on this vision. As a result, the Company has continued its long-term growth trajectory, increasing sales by c. 8% p.a. to c. EUR 1.5 billion in 2023 from c. EUR 880 million in 2016. Over the same time, adjusted EBITDA doubled to approx. EUR 280 million based on preliminary FY23 results.

Johannes Reichel, Partner within EQT Private Equity’s Advisory Team, said: “We saw the huge potential that Ottobock’s purpose and market-leading role in the HealthTech industry offered when we invested in this “hidden champion” in 2017. Since then, in close partnership with Hans Georg Näder and the management team, we have taken Ottobock to a new level of growth, as reflected both in the innovative new product launches with strong benefit to patients and Ottobock’s financial development. Ottobock is growing dynamically and is well-positioned to continue on this trajectory as a privately managed family business, making it the ideal time for us to exit the Company. This again showcases EQT Private Equity’s ability to partner with a high-potential family business, drive transformation and position it for long-term success.”

Professor Hans Georg Näder, owner and Chairman of the Board of Directors of Ottobock, said: “Through the partnership with EQT, we have further professionalized Ottobock in recent years and developed its IPO readiness. Today, we benefit from a strong foundation for the next growth phase of our company. The collaboration with EQT was characterized by a high level of mutual respect and trust. And it was very successful: in 2023, we achieved the highest sales volume and the best results in the company’s history. We will now continue our successful strategy as a purely family-owned company in the legal form of an SE & Co. KGaA, owned by my family and led by our CEO Oliver Jakobi and his strong management team.”

The transaction is expected to close in H1 2024.

EQT Private Equity was advised by J.P. Morgan, Hengeler Mueller, KPMG and BCG.

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 130 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
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About Ottobock
For more than 100 years, Ottobock has been developing innovative fitting solutions for people with reduced mobility. As a Human Empowerment Company, Ottobock promotes freedom of movement, quality for life and independence. This is supported by more than 9,000 employees. With innovative power, outstanding technical solutions and services in the fields of Prosthetics, Orthotics, NeuroMobility and Patient Care, they enable people in more than 135 countries to live their lives the best possible way they want to. As the world market leader in wearable human bionics, the company founded in 1919 is constantly setting new standards and pushing ahead with the digitalisation of the industry – together with its partners, the medical supply companies, and international research institutions. Since 2018, Ottobock has been transferring its expertise in biomechanics to exoskeletons for ergonomic workplaces. The international activities of the company are coordinated from the head office in Duderstadt (state of Lower Saxony). Ottobock has been supporting the Paralympic Games with its technical expertise since 1988.

Media Contact:

EQT Press Office
press@eqtpartners.com

SOURCE: EQT