EQT Private Equity to sell LimaCorporate to Enovis, terms not disclosed

EQT Private Equity announces the sale of LimaCorporate to Enovis. With this transaction, LimaCorporate will become part of the NYSE-listed Enovis group in a strategic combination that creates a global leader in the orthopaedic industry. Founded in 1945 by the Lualdi family and headquartered in San Daniele del Friuli, Italy, LimaCorporate is a global orthopaedic implant manufacturer. Its heritage of innovation is reflected in its industry-leading know-how in additive manufacturing, such as its proprietary Trabecular Titanium technology. LimaCorporate has grown over the years to become one of the leading European orthopaedic companies, expanding its product portfolio primarily through in-house innovation and the advancement of its 3D printing capabilities. LimaCorporate, together with EQT, has been investing to solidify its core offering and increase manufacturing capacity in the face of rapidly growing demand, while further developing talent to execute the market expansion, with accelerated global growth. In 2022, the company reached revenues of EUR 249 million and it will continue to bring critical innovation to surgeons and patients as part of Enovis. By becoming part of the NYSE-listed Enovis group, LimaCorporate will benefit from a greater global network and new commercial opportunities thanks to the complementarity of the two companies’ product portfolios and market penetration. New investments will accelerate the completion of the new production building at the Headquarter in San Daniele del Friuli. The local production plants will continue to support the global expansion of the Group. The transaction is subject to customary conditions and approvals and is expected to close in early 2024. In connection with the transaction, Enovis intends to redeem, repay, and/or cancel certain indebtedness of LimaCorporate in full on or around closing, including LimaCorporate S.p.A.’s senior secured floating rate notes due 2028 and the group’s existing revolving credit facility.