Global private equity firm Carlyle Group (NASDAQ: CG) is said to have hired investment bank Natixis Partners to handle the sale of its 80% stake in French orthopedic implants leader Marle SA, which it acquired in 2009. The Marle family and the company’s management team kept a 20% stake in the business after Carlyle’s takeover.
Natixis Partners had been reportedly competing for Marle’s M&A mandate since November with two other investment banks, Messier Associés (Messier Partners) and Lazard, according to Capital Finance. Carlyle’s goal is reportedly to achieve a valuation of 300 M€.
Marle, based in Nogent, France, serves the worldwide orthopedic industry with specialized manufacturing services to produce hip, knee, shoulder, spine and extremities implants and instruments of the highest quality, within the shortest timeframe. The company offers a wide combination of technologies, which enables the production of the most diverse implant geometries, with strict tolerances and the highest quality and cost-efficiency achievable on the market.
The Marle Group manufactured a million implants in 2015, with an annual turnover of 85 M€, and currently employs 530 people at five production facilities throughout France.
Marle has been devoting its entire manufacturing expertise to orthopedic implants for more than thirty years. It has acquired or build a wide span of technologies dedicated to the medical industry and now offers one of the most complete manufacturing services in the orthopedics market.
Establissements Maurice Marle SA was founded by Maurice Marle in 1964, and was taken over by Bernard Marle in 1978. In 2011, with Carlyle’s backing, Marle acquired SEEP (machining), ATS (investment casting) and Sferic (precision grinding), ranking amongst the top orthopaedics contract manufacturers in the world.
On January 30, 2016, Marle acquired Finortho SAS which it merged with its SEEP SAS subsidiary, creating Marle Finishing. This enabled Marle to respond to the increasing market demand for expertise in polishing and to reinforce the development of an ever more complete supply chain solution for its customers.
The global orthopedic biomaterials market was estimated at $55.63 billion in 2015, and is projected to reach $183.9 billion by 2022, according to Stratistics MRC, growing at a CAGR of 18.6% from 2015 to 2022.
Growing demand for orthopedic medical treatments using biomaterial implants combined with stem cell therapy is the major factor driving the market growth. In addition, investments in new technology development, a high growth in the geriatric population coupled with cardiovascular diseases, and funds and grants from government bodies worldwide, are some of the drivers fuelling the market growth.
Last week, Mich.-based medical-device maker Stryker Corp. bought British orthopedic implants company Stanmore Implants Worldwide for $52 million.
Some of the key players in this market include BASF, Invibio, Carpenter Technology, Covalon Technologies, Zimmer Biomet Holdings, Cam Orthopedic Biomaterials, Medtronic, Exatech, Aesculap, NuVasive, Royal DSM, Wright Medical Technology, Bayer AG, Globus Medical, Ferring Pharmaceuticals, Arthrex, Corbion, Collagen Matrix, Evonik Industries and Berkeley Advanced Biomaterials.