Renzenbrink & Partner advises IK Partners on the sale of Klingel Medical Group to Elos Medtech

28 July 2023

Renzenbrink & Partner has advised funds advised by IK Partners on the sale of all shares in Klingel Holding GmbH (Klingel Medical Group) to the publictly listed Swedish Elos Medtech AB, a portfolio company of TA Associates. The purchase price will be financed by a rights issue of Elos Medtech AB which is guaranteed by TA Associates (backstop).

Klingel Medical Group is one of the leading manufacturers of metal products for medical technology and specialist in the precision machining of high-strength materials. Klingel employs around 900 people at its headquarters in Pforzheim and at its partner companies Josef Ganter Feinmechanik in Dauchingen, puracon in Rosenheim, Bächler Feintech in Hölstein and Matzingen, and Ruetschi in Renquishausen (southern Germany), Muntelier and Yverdon-les-Bains (both Switzerland).

Elos Medtech is a leading development and production partner for medical devices and components, with a focus on dental and orthopaedic implants and instruments. The company has locations in Sweden, Denmark, China and the US. The customer base includes international medical technology companies.

Renzenbrink & Partner has already advised IK Partners on the acquisition of Klingel Medical Group and all add-ons. Now Renzenbrink & Partner has advised IK Partners on all legal and tax aspects of the sales process. The Renzenbrink & Partner team consisted of Dr Ulf Renzenbrink, LL.M. (Corporate/PE), Marc Holger Kotyrba (Tax/PE), Dr Andreas Stoll (Corporate/PE), Dr Alexander Haunschild, Moritz Rojek (both Corporate/PE), Dr Toufic Schilling and Marie Eikmeier (both Tax/PE).

For all legal matters relating on Swiss law, a team of Wenger Vieli led by Marc Walter and Kevin Vangehr, supported by Barbara Brauchli Rohrer and Jonas Bühlmann (Tax) advised alongside Renzenbrink & Partner.

Charlotte Levin of Linklaters, Stockholm, advised on Swedish capital markets law.