CPP Investments and BC Partners Fund XI husband or wife as joint investors to push
ongoing growth and value creation for the higher-overall performance ceramics
expert and leading global MedTech business
TORONTO and LONDON, Aug. 17, 2021 /CNW/ – Canada Pension Plan Investment decision Board (“CPP Investments”), via its wholly owned subsidiary, CPP Expenditure Board Europe S.àr.l, and BC Associates, a main intercontinental expense business, currently announced an agreement to jointly get the CeramTec (“the Corporation”), from existing owner BC European Capital X (“BCEC X”) and its co-traders. CeramTec is a superior-performance ceramics professional and world wide MedTech business. On completion of the transaction, CeramTec will be jointly owned by CPP Investments and BC Companions Fund XI (“BC XI”).
CeramTec is a main world MedTech platform and service provider of high-overall performance ceramics for professional medical implants and bespoke industrial answers, with 21 output sites and more than 3,500 workers across 11 nations around the world. With a well-diversified products portfolio of extra than 20,000 models, the Company is energetic in two business strains: the healthcare organization, which produces orthopedic and dental ceramic implant parts, and the industrial company, which focuses on really specialised, mission-critical higher-functionality ceramics methods.
Because BC Partners’ original expense in March 2018, CeramTec has appreciably prolonged its merchandise progress pipeline, undergone a programme of operational enhancement, and accelerated its transformation into a diversified MedTech platform, such as as a result of the modern acquisition of Dentalpoint, a rapidly-growing know-how chief in the discipline of ceramic dental implants.
The new ownership structure displays both CPP Investments’ and BC Partners’ self confidence in CeramTec’s business product and future development potential customers, and gives the opportunity to realise supplemental worth. The shareholders will support CeramTec as it expands its main posture as a diversified MedTech system, driving ongoing product or service enhancement and strategic M&A in a sector underpinned by solid secular advancement developments.
Hafiz Lalani, Handling Director, Head of Europe, Direct Non-public Equity, at CPP Investments, said, “We are happy to guidance the upcoming stage of CeramTec’s advancement in this desirable global current market, in partnership with the Company’s greatest-in-course administration group and BC Companions, who bring deep sector information. CeramTec’s exceptional MedTech merchandise optimise affected person outcomes, bettering the life of tens of millions of people today worldwide, and present us with an possibility to deliver good very long-time period possibility-modified returns for CPP contributors and beneficiaries.”
Under the new ownership construction, CPP Investments and BC XI, jointly with co-investors, will each and every hold a 50% stake in the Organization. The money contribution by CPP Investments in CeramTec will be approximately €800 million. Current buyers the Community Sector Pension Financial commitment Board (“PSP Investments”) and Ontario Teachers’ Pension Plan (“Ontario Teachers'”), which invested in CeramTec as section of a consortium together with BC Associates in March 2018, will exit their direct investments.
Raymond Svider, Chairman of BC Associates, said: “We are delighted to be functioning all over again alongside CPP Investments as we go on our partnership with CeramTec, a superior-top quality company that we believe that proceeds to have important development probable. In excess of the earlier 3 a long time, CeramTec has drastically extended its merchandise improvement pipeline, been through a programme of operational advancement and undertaken strategic M&A to diversify its offering and broaden the platform, to ensure the enterprise continues to be at the forefront of the sector. We seem ahead to working with our new partners as we aid Dr. Hadi Saleh and the rest of the administration group in more consolidating CeramTec’s posture as a substantial-growth, MedTech industry leader globally.”
Dr. Hadi Saleh, Chief Government Officer of CeramTec, said: “We are enthusiastic to go on doing work with the group at BC Partners, whose assistance due to the fact 2018 has enabled us to successfully increase our item variety as we diversify our MedTech footprint. Additionally, we are delighted to welcome our new companions in CPP Investments, whose sector knowledge and strategic counsel we have currently been impressed by. We believe that that together we are effectively-positioned to proceed functioning towards our goal of currently being the undisputed world wide leader in significant-general performance ceramics in the eyes of our buyers.”
About CPP Investments
Canada Pension Strategy Financial commitment Board (CPP Investments™) is a qualified expense management firm that manages the Fund in the ideal fascination of the much more than 20 million contributors and beneficiaries of the Canada Pension System. In get to construct diversified portfolios of assets, investments are manufactured about the environment in community equities, personal equities, real estate, infrastructure and fixed profits. Headquartered in Toronto, with places of work in Hong Kong, London, Luxembourg, Mumbai, New York Metropolis, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Approach and at arm’s size from governments. At June 30, 2021, the Fund totalled C$519.6 billion.
For extra information and facts, please check out www.cppinvestments.com or abide by us on LinkedIn, Facebook or Twitter.
About BC Associates
BC Partners is a top international financial commitment firm with more than €33 billion of assets beneath management in non-public fairness, private credit history and true estate approaches. Proven in 1986, BC Partners has performed an lively part in producing the European buyout market for in excess of a few many years. Currently, BC Partners executives work throughout marketplaces as an integrated workforce via the firm’s places of work in North The usa and Europe. Due to the fact inception, BC Associates has done 123 non-public equity investments in corporations with a overall organization price of over €161 billion and is currently investing its eleventh private fairness fund.
For additional facts, please pay a visit to www.bcpartners.com.
CeramTec is a environment-top maker of large-effectiveness ceramics and is specialised in the growth, producing and sale of elements, components and products created from a huge variety of ceramic materials. With around a century of developmental and production encounter, CeramTec is a world-wide leader in the manufacturing of superior ceramics which engineers and designs these components for use in health-related implants as properly as a wide variety of specialised industrial programs, like the automotive market, electronics, vitality and environmental engineering, as perfectly as products and mechanical engineering.
With output web sites and subsidiaries in Europe, the United kingdom, North and South The us as well as Asia, CeramTec maintains its presence all around the world as a manufacturer and supplier. The organization is headquartered in Plochingen, near Stuttgart. In 2020, CeramTec produced close to €553 million in revenues. CeramTec employs far more than 3,500 workers around the globe, all over 2,000 of which are in Germany.
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