HALDER takes majority stake in CPM GROUP
Context
Halder acquired a majority stake in CPM Group, the German contract manufacturer of dental and medical implants, in a transaction announced in April 2022. Founder Claus-Peter Maier sold his shares and left the company after twenty-two years, while the existing management team stayed in place under chief executive Christian Kick, who had led the business for many years. Managing partner Christian Muschalik led the investment for Halder. It was a succession deal, of the kind that forms the core of Halder’s activity: the firm had completed 24 of them among the 45 companies it had backed since 1991, and held eight investments at the time. Halder planned to widen the company’s range of products and services and to grow it through add-on acquisitions, in a market where demand for medical devices continues to rise and where regulatory requirements have become more demanding, favouring manufacturers able to handle development, production and certification for their customers. Christian Kick said the goals set with Halder had convinced the team from the outset, and Christian Muschalik pointed to the combination of a motivated management team and deep manufacturing and medical technology expertise.
CPM GROUP, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
Founded in 2000 by Claus-Peter Maier, CPM Group manufactures medical implants and surgical instruments on behalf of medical technology companies. Its work centres on dental implants, alongside spinal implants and instruments for eye surgery, and covers the whole process: designing and developing the product with the customer, machining it, treating its surface, supporting the certification it requires, then labelling it and packaging it sterile for delivery. Its customers are medical device companies, mainly in Germany, Austria and Switzerland, and the company manufactures in Germany.
Ent. Value
€5–25M
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
Similar deals in Life Sciences
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 05/2022 | ASTORG | CORDENPHARMA | SWITZERLAND | CDMO |
| 05/2022 | GOLDMAN SACHS | NORGINE | NETHERLANDS | Generics / Labs |
| 03/2022 | FRESENIUS | MABXIENCE | SPAIN | CDMO |
| 03/2022 | FRESENIUS | IVENIX | UNITED STATES | Diagnostic Equipment |
| 02/2022 | MONTAGU PRIVATE EQUITY / PARTNERS GROUP | HTL BIOTECHNOLOGY | FRANCE | CDMO |
| 01/2022 | PERMIRA | BIO PRODUCTS LABORATORY (BPL) | UNITED KINGDOM | CDMO |
| 01/2022 | ARDIAN | BIOFARMA GROUP | ITALY | CDMO |
| 01/2022 | PERMIRA | KEDRION | ITALY | CDMO |
| 01/2022 | ANJAC BEAUTY & HEALTH | APOLLO HEALTHCARE CORP. | CANADA | CDMO |
| 12/2021 | WINNCARE | PHARMAOUEST INDUSTRIES | FRANCE | Medical Devices |
REFERENCES
Revenue range: €5–25M
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: cpm group
Acquirer: halder