goetzpartners advised Gimv on the acquisition of Medi-Markt Homecare Service and Medi-Markt Service Nord Ost with Debt Advisory and Commercial Due Diligence services
goetzpartners' Debt Advisory and Private Equity teams jointly advised European investment company Gimv with both the syndicated acquisition financing and the commercial due diligence on the takeover of the majority of Medi-Markt Homecare Service GmbH based in Mannheim as well as Isenbüttel-based Medi-Markt Service Nord Ost GmbH. The companies are specialized mail-order providers of homecare supplies with a combined annual turnover of more than €50m.
goetzpartners provided key support during the transaction process, with its in-depth debt advisory expertise, on lender education and running a competitive financing process. goetzpartners helped to optimize financing terms and conditions, to arrange a bank club and to lead the whole financing process. Financing was finally provided by NordLB and OLB in a club deal.
The particular focus of the Commercial Due Diligence covered a detailed analysis of the Companies’ business model and financial performance, an assessment of the market size and growth outlook including relevant regulatory dynamics. The Due Diligence was completed with an analysis of the competitive landscape, the Companies' customer portfolio as well as the evaluation of future growth potentials.
With the combination of Debt Advisory and Commercial Due Diligence goetzpartners has an unique synergetic service offering on the market. This setup enables optimal results in deal financing by providing information customized to lender’s requirements on credit critical issues.
The two companies and their affiliates, which together employ around 225 people, will form one group as of this transaction and will operate jointly under the Medi-Markt brand, headquartered in Mannheim. Markus Reichel, formerly managing director of Medi-Markt Homecare Service GmbH, will become managing director of the new group and a co-shareholder. The companies particularly focus on absorbing incontinence products. Further product groups include revulsive incontinence, diabetes control, stoma care, enteral nutrition, disinfection and protection as well as personal hygiene, supplying a total of approx. 12,000 different products. The companies distribute branded and private label products. Medi-Markt is one of the major providers in the country for incontinence aids and stoma care.
Gimv NV is a European Private Equity Investor with more than €1.6bn assets under management distributed on 54 portfolio companies. It is focused on investments in healthcare, connected consumer products, smart industries and sustainable cities. Investment tickets typically range between €5m to €50m. Gimv operates out of 4 offices in Antwerp, Paris, The Hague and Munich.
Commercial Due Dilligence:
Dr. Sigurd Kitzer