EQT to Sell LimaCorporate to Enovis Corporation, Creating Global Orthopaedic Industry Leader

EQT to Sell LimaCorporate to Enovis Corporation, Creating Global Orthopaedic Industry Leader

(IN BRIEF) EQT, in collaboration with its co-shareholders, has agreed to sell LimaCorporate, a global orthopaedic implant manufacturer, to Enovis Corporation, a NYSE-listed company. LimaCorporate, known for its innovative orthopaedic solutions and additive manufacturing expertise, specializes in shoulder, knee, and hip prostheses. EQT has supported LimaCorporate in expanding its product portfolio and manufacturing capacity while fostering market growth. The transaction, subject to standard conditions and approvals, is expected to be completed in early 2024.

(PRESS RELEASE) STOCKHOLM, 26-Sep-2023 — /EuropaWire/ — EQT is pleased to announce that the EQT VII fund (“EQT Private Equity” or “EQT”), together with its co-shareholders, have agreed to sell LimaCorporate (the “Company”) to Enovis Corporation. With this transaction, LimaCorporate becomes part of the NYSE-listed Enovis Corporation in a strategic combination that creates a global leader in the orthopaedic industry.

Founded in 1945 by the Lualdi family and headquartered in San Daniele del Friuli, Italy, LimaCorporate is a global orthopaedic implant manufacturer with a heritage of innovation, reflected in its industry leading know-how in additive manufacturing, such as its proprietary Trabecular Titanium (“TT”) technology. The Company focuses on shoulder, knee and hip prostheses with a portfolio that includes one of the first modular shoulder systems in the world, the SMR, the Delta hip cup family, and the Physica system knee.

EQT has supported LimaCorporate in the expansion of its product portfolio primarily through in-house innovation and the advancement of its 3D printing capabilities. It has invested to solidify its core offering and increase manufacturing capacity in the face of rapidly growing demand, while further developing talent to execute on the Company’s market expansion, with accelerated global growth. In 2022, the Company reached revenues of EUR 249 million and it will continue to bring critical innovation to surgeons and patients as part of Enovis Corporation.

Matteo Thun, Partner within EQT Private Equity’s Advisory Team, said, “LimaCorporate is a true example of sophisticated engineering and technology designed to empower surgeons and to improve patients’ life. EQT is proud to have been part of the Company’s journey and I want to thank the management team and all the employees of LimaCorporate, who work enthusiastically every day to bring life-changing products to patients around the world. It is exciting to see a global player like Enovis Corporation joining forces with LimaCorporate in such a strategic combination”.

Massimo Calafiore, CEO of LimaCorporate, said, “I am really proud of what the people of LimaCorporate have achieved over the years and I thank EQT for their partnership. The combination with Enovis Corporation is a key milestone in our journey and I am looking forward to seeing the combined Group continue to develop innovative products for surgeons and patients globally”.

The transaction is subject to customary conditions and approvals and is expected to close in early 2024.

EQT has been advised by Goldman Sachs as lead financial advisor, Morgan Stanley, Mediobanca, Latham & Watkins and PwC.

About EQT
EQT is a purpose-driven global investment organization with EUR 224 billion in total assets under management (EUR 126 billion in fee-paying 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 LimaCorporate
LimaCorporate is a global orthopedic company, focused on digital innovation and patient-tailored hardware, which advances patient-centred care. Its pioneering technological solutions are developed to empower surgeons, and to improve patient outcomes from joint replacement surgery. Its primary focus is on providing reconstructive and custom-made orthopedic solutions to surgeons, enabling them to improve the quality of life of patients by restoring the joy of movement.

Headquartered in Italy, the company operates directly in over 20 countries around the world. LimaCorporate offers products ranging from large joint revision and primary implants, to complete extremities solutions, including fixation.

For additional information on the Company, please visit www.limacorporate.com

About Enovis Corporation
Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent and innovation, the Company’s extensive range of products, services and integrated technologies fuels active lifestyles in orthopedics and beyond. The Company’s shares of common stock are listed in the United States on the New York Stock Exchange under the symbol ENOV.

For more information about Enovis, please visit www.enovis.com

Media Contact:

EQT Press Office
press@eqtpartners.com
+46 8 506 55 334

SOURCE: EQT AB