Livingstone has advised the shareholders of Lucien Ortscheit GmbH (Ortscheit) on the sale to Silver Investment Partners (SIP) as exclusive financial advisor. Ortscheit is a leading pharmaceuticals wholesaler specializing in unlicensed medicinal products. SIP is an independent investor for equity financing of medium-sized companies in Germany, Austria and Switzerland. Terms of the transaction are undisclosed.
Ortscheit was founded in Saarbrücken in 1963, it focuses on the supply of pharmaceutical products that are temporarily unavailable or not approved in the target country and operates internationally. It also offers comparative drugs for clinical studies. Supply of unlicensed drugs bridges the time delay in initial approvals or possible medicines shortages in certain markets. Such trading also enables therapies for rare disease patients if a particular drug is not approved in their country (yet). The previous owners, the Kloos family, who took over the company in 2002, will retain a minority stake in the company. The transaction prepares the ground for an efficient succession process. In the medium term, Mr Kloos will continue to be responsible for business operations as Managing Director. The company headquarters in Saarbrücken as well as the team will be retained. The focus of SIP is the sustainable support and expansion of the leading market position of the portfolio company.
“I am very pleased that in Silver Investment Partners we have found an entrepreneurial and long-term oriented partner with whom we can implement an orderly succession arrangement for Ortscheit and maintain the headquarter for our employees“, says Kurt Kloos, Managing Director of Ortscheit. “Together we have completely new growth perspectives.“
“Lucien Ortscheit is one of the market leaders in a continuously growing niche market“, says Philipp Amereller, Managing Partner of SIP. “We shall support the company in using its strong starting position to develop new business areas and to further expand existing markets and product range. We are also considering attractive add-on acquisitions at domestic and international level.“
Ralph Hagelgans, Partner at Livingstone Partners adds: “We are pleased to have found a solution for all stakeholders, which combines an individually structured and medium-term succession plan with a growth strategy in a highly interesting segment of the pharmaceutical wholesale.“
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- I am very pleased that in Silver Investment Partners we have found an entrepreneurial and long-term oriented partner with whom we can implement an orderly succession arrangement for Ortscheit and maintain the headquarter for our employees. […] Together we have completely new growth perspectives.Kurt Kloos, Managing Director, Lucien Ortscheit GmbH