Klingel Medical Group acquired by Elos Medtech

GERMANY Life Sciences / Medical Devices / Implants & Prosthetics EV €300–700M

Context

Elos Medtech entered into an agreement to acquire 100% of Klingel Medical Group from IK Partners and its management team. The strategic rationale for the deal is to create a market-leading European MedTech CDMO with significantly enhanced R&D capabilities and a broader technological offering. The acquisition expands Elos Medtech's industrial presence in the DACH region by adding eight specialized manufacturing sites in Germany and Switzerland. Strategically, the combination aims to unlock cross-selling opportunities and provides Klingel with increased visibility and distribution channels in the U.S. market. This milestone consolidation allows the combined entity to leverage a global footprint to drive operational improvements and cater to the unique needs of international OEM customers in the medical device sector.

Klingel Medical Group, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average observed in the Healthcare & Pharma sector (16.0x in 2023).

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Target

Founded in 1922, Klingel Medical Group is a leading European Contract Development and Manufacturing Organization (CDMO) specializing in high-precision metal products for the medical technology sector. The company's business model focuses on the end-to-end production of complex components and medical devices, utilizing advanced CNC milling, turning, and cleanroom assembly. Its value proposition is anchored in extensive R&D capabilities and specialized technological expertise required for surgical instruments and implants. Strategically, the firm operates as a mission-critical partner for global medical OEMs, maintaining eight production facilities across Germany and Switzerland with approximately 900 employees. By providing a "one-stop-shop" service for the orthopedics, spine, and dental markets, the organization has established a dominant footprint in the DACH region.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2023

2022

Similar deals in Life Sciences

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Date	Acquirer	Target	Country	Sector
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07/2023	EQT PARTNERS / ADIA	DECHRA PHARMACEUTICALS	UNITED KINGDOM	Pharma & Biotech
07/2023	LAUXERA	ORGANOX	UNITED KINGDOM	Medical Devices
06/2023	NOVO NORDISK	BIOCORP	FRANCE	Medical Devices
04/2023	SARTORIUS	POLYPLUS	FRANCE	R&D Biotech
04/2023	INNOVAD GROUP	HERBONIS	SWITZERLAND	Animal Health
04/2023	HALMA	APRIOMED	SWEDEN	Medical Devices
02/2023	ARDIAN	THERADIAL	FRANCE	Medical Devices
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REFERENCES

Valuation range: EV €300–700M

Revenue range: €100–200M

EBITDA range: €10–30M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Klingel Medical Group by Elos Medtech are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers Elos Medtech’s acquisition of 100% of Klingel Medical Group, a German company specialised in Medical Devices, in 2023.

How was the acquisition of Klingel Medical Group by Elos Medtech valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were Klingel Medical Group’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Klingel Medical Group generated annual revenue estimated in the €100–200M range and EBITDA in the €10–30M bracket (FY 2023). Detailed financial figures are available to members.

How does the valuation of Klingel Medical Group compare to benchmarks in the Healthcare & Pharma sector?

With an estimated multiple range of 10x - 18x, the transaction stands directly in line with historical averages for the Healthcare & Pharma sector (16.0x in 2023).

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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