Copy to clipboard 
Elos Medtech entered into an agreement to acquire Klingel from IK Partners and management.
Klingel, a contract development and manufacturing organization headquartered in Germany, will strengthen Elos Medtech’s position with its R&D capabilities and new technology expertise. Further, the acquisition will broaden the product offering and add new high profile global customers, contributing to a strong footprint in the DACH region.
The purchase price corresponds to an enterprise value of €370 million. Closing is expected to take place in 4Q23.
The acquisition marks a significant milestone for both companies and demonstrates their continued commitment to key customers and markets. With this acquisition, Elos Medtech will gain eight production facilities in Germany and Switzerland, along with R&D capabilities, technological expertise and an extensive global customer base. Klingel has approximately 900 employees with similar beliefs and culture to the Elos Medtech team. Together, they will hold strategically located sites across the U.S., Europe and Asia, providing reach and support to its global customers.
“We firmly believe that this acquisition strengthens our position in the CDMO landscape. It marks a significant step forward in our commitment to offering an extensive array of services to our customers through the hard work of a talented combined workforce. The acquisition will reinforce our well-established reputation for excellence and our ability to cultivate enduring partnerships, aligning seamlessly with Klingel’s similar ethos. It is important that we build on the heritage of these businesses and, as per the last 100 years, remain dedicated to investing in our teams; all of whom are paramount to our success and a real point of differentiation. We are also committed to acquiring and developing cutting-edge technologies to provide our customers with additional capacity and capability. I would like to take this opportunity to thank each and every member of the Klingel and Elos Medtech teams for all their hard work and dedication to date. We strive to be the expert our customers can rely on, so that they can focus on growing their businesses.” says Stefano Alfonsi CEO and President of Elos Medtech.
“We are thrilled about this strategic move as we see a remarkable alignment of values and culture between our two companies, paving the way for a highly-advantageous and successful collaboration. We are excited at the prospect of having increased visibility in the U.S. as part of this agreement,” said Ralf Petrawitz, Co-CEO of Klingel.
“This acquisition is an opportunity for our existing customers, who will benefit from an expanded offering, as well as for our dedicated employees, who will be part of a global longstanding organization. It will allow us to showcase our technologies and expertise to the US market far more efficiently than before,” said Christoph Ruetschi, Co-CEO of Klingel.
Source: Elos Medtech
