Saturday, July 20, 2024
News
NEWS HOME
»
PRN INDIA
EQT PRIVATE EQUITY TO SELL LIMACORPORATE TO ENOVIS: THE ITALIAN SITE IN SAN DANIELE DEL FRIULI WILL REMAIN THE FULCRUM OF PRODUCTION, BENEFITING FROM NEW INVESTMENTS
  SocialTwist Tell-a-Friend  
   

UDINE, Italy, Sept. 25, 2023 /PRNewswire/ --  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 (TT) 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.

Matteo Thun, Partner within EQT Private Equity's Advisory Team, said, "LimaCorporate is a true example of sophisticated engineering and technology designed to empower surgeons and to improve patients' lives. EQT is proud to have been part of the Company's journey and I want to thank the management team and all the employees of LimaCorporate, who work enthusiastically every day to bring life-changing products to patients around the world. It is exciting to see a global player like Enovis joining forces with LimaCorporate in such a strategic combination".

Massimo Calafiore, CEO of LimaCorporate, said, "I am proud of the value we have created over the years and especially in the last twelve months. I would like to personally thank all Lima People for the energy, enthusiasm, and motivation they always demonstrated in their everyday work. Furthermore, I would like to thank EQT for having been a supportive partner in investing in our company and contributing substantially to LimaCorporate's growth. The relentless work of this Leadership Team and the entire organization during the last year, aimed at helping patients and creating value, made possible for Lima to stand up as one of the most exciting companies in the space. The new combination with Enovis is a key milestone in our journey and I am looking forward to seeing the combined Group continue to develop innovative products for surgeons to restore the eMotion of Motion in our patients".

Matt Trerotola,  CEO of Enovis said, "We are extremely excited for the talented LimaCorporate team to join the Enovis family. From the beginning, it was clear that we share a mutual passion for using surgical innovation to drive improved patient outcomes, and together we will continue to design and deliver best-in-class products and technologies. This strategic combination expands and strengthens our geographic reach and orthopedic leadership around the world."

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.

About LimaCorporate  

LimaCorporate  is a global orthopedic company, focused on digital innovation and patient-tailored hardware, which advances patient-centered care. Its pioneering technological solutions are developed to empower  surgeons, and to improve patient outcomes from joint replacement surgery.  Its primary focus is on providing reconstructive and custom-made orthopedic solutions to surgeons, enabling them to improve the quality of life of patients by restoring the joy of movement.

Headquartered in Italy, the company operates directly in over 20 countries around the world.  LimaCorporate offers products ranging from large joint revision and primary implants, to complete extremities solutions, including fixation.

For additional information on the Company, please visit www.limacorporate.com
Limacorporate spa
Via Nazionale, 52
33038 Villanova di San Daniele
Udine – Italy
t: +39 0432 945511
e.: info@limacorporate.com

About Enovis

Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent and innovation, the Company's extensive range of products, services and integrated technologies fuels active lifestyles in orthopedics and beyond. The Company's shares of common stock are  listed in the United States on the New York Stock Exchange under the symbol ENOV. For more information about Enovis, please visit www.Enovis.com.

This announcement constitutes a public disclosure of inside information by LimaCorporate S.p.A. under Regulation (EU) 596/2014 and any relevant implementing rules and regulations. Upon the publication of this announcement, this inside information (as defined in Regulation (EU) 596/2014) is now considered to be in the public domain. This announcement is being made on behalf of LimaCorporate S.p.A. by Michele Marin Company Secretary.

Cision View original content:https://www.prnewswire.co.uk/news-releases/eqt-private-equity-to-sell-limacorporate-to-enovis-the-italian-site-in-san-daniele-del-friuli-will-remain-the-fulcrum-of-production-benefiting-from-new-investments-301936471.html

More News by PR Newswire India

/DISREGARD RELEASE: Bybit/

Kushal's Fashion Jewellery Festive Collection, adorned by Tara Sutaria, beautifully combines glamour and elegance

Unilumin Group Signed an Agreement with Saudi Arabia in the Third Belt and Road Forum for International Cooperation

Transport Corporation of India Ltd. (TCI Group) has been recognized as a Maritime Excellence Achiever at GMIS 2023 by The Ministry of Ports, Shipping & Waterways on 19th October 2023

Bitget Introduces 'Futures Quant' With AI Features

Bitget's Q3 Growth: Second-Highest Market Share Surge and Record High for BGB Holders

HarperCollins Publishers India is proud to announce the publication of SPREADING JOY: How Joyalukkas Became the World's Favourite Jeweller by Joy Alukkas with Thomas Scaria and Nidhi Jain

Go Global or Go Home: New Report Reveals Companies Lacking Global Presence Will Lose Growth Opportunities

MOVIN rolls out the second phase of Electric Vehicles in Bengaluru paving the way for greener deliveries in logistics

Motilal Oswal Financial Services Ltd. (MOFSL) launches #CorporateMushaira, an audio-first campaign for the World Investor Week

UBBF 2023 Intelligent IP Network Summit in Dubai an Impressive Success

Placing Them Right: IBS Path to MBA Career Success

HDFC ERGO reiterates its commitment on making health insurance Accessible, Affordable and Convenient with launch of 6 new products and 2 service upgrades

capSpire expands its global footprint with entry into the Singapore market

GTPL Hathway records its highest quarterly revenues from operation

CCTV+: International reporters experience the romance and vitality of Hangzhou, China

STL expands its Enterprise Networking solution portfolio with Estelan

Mantittude: Skincare for Men encourages men to unleash their inner 'Pataka' this Diwali

The 134th Canton Fair Opened with Optimized Structure and Upgraded Scale

MADAME TUSSAUDS SINGAPORE UNVEILS LIFELIKE FIGURE OF CRICKET ICON VIRAT KOHLI AMIDST ICC MEN'S CRICKET WORLD CUP!

Ugreen unveils power solutions and personal data storage at the Gitex Trade Show in United Arab Emirates.

Meridean Overseas Education Consultants Announces Half-Day Leave to Celebrate India vs. Pakistan Cricket Match

Xinhua Silk Road: Huai'an, UNESCO creative city of gastronomy, explores innovative dev. of food industry via premier regional food expo

Xinhua Silk Road: Fengxin County in E. China's Jiangxi celebrates bountiful harvest of kiwifruit

Casio to Release G-SHOCK Watches with Shining Metallic-Colored Dials

UEG Week 2023 : Babies with a low birthweight four times more likely to develop fatty liver disease in later life

CGTN: Diffusion of tea and its culture along the Silk Road

NEOM announces Leyja, its latest sustainable tourism destination

Expand North Star 2023 kicks off in Dubai gathering game-changing start-ups to accelerate on global stage

World Health Summit kicks off in Berlin

Hexaware Technologies announces new office in Dehradun to bolster its global delivery network

Chinese automotive industry has overtaken to supercars

Participants of the Made in Russia business mission to India held more than 150 negotiations with local importers and distributors

Rummy Passion Raises the Bar: Instant Withdrawals Now Available for All Tiers

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Paasengers of flight diverted to Russia ...
Class 9 student raped in moving car in M...
AAP targets Centre, Ministry of Railways...
J-K: Fresh batch of pilgrims leaves for ...
29 women faint due to ammonia gas leak a...
Army Chief General Upendra Dwivedi to vi...
More...    
 
 Top Stories
"Presenting false narratives on soc... 
Civil Aviation Minister confirms ai... 
Patanjali foods profit surges on bo... 
"Law and order collapsed under Lalu... 
Ohmium's Rs 2,000 cr green hydrogen... 
Radhikka Madan opens up about her j... 
China: 11 dead, 30 injured in highw... 
"It's the foundation": Manchester U...