Andera Expansion, Andera Partners’ dedicated small-mid cap team, and AfricInvest Europe are both supporting Spengler Group’s change of scale

A year after completing the two transformational acquisitions of Dessillons & Dutrillaux and Electro Concept Médical, Spengler Group has become a key European player in the manufacture of high added-value medical equipment with the acquisition of Luxamed, a specialist in light for medical diagnostics.

Led by a trio of directors who are all reinvesting significantly in the newly-formed group, Luxamed is one of Europe’s leading manufacturers of otoscopes, dermatoscopes, ophthalmoscopes and examination lamps. The company, founded in 2012, is acknowledged for its expertise in lighting technologies applied to medical diagnostics and for its capacity to innovate in this field. Based in Blaubeuren, near Ulm, in the German state of Baden-Württemberg, the company has its own manufacturing plant and markets its products in over 80 different countries.

Joël Malabat, Chairman of Spengler Group, comments: “Under the impetus of its founders, Luxamed has become an acknowledged brand on the European market. This merger is first and foremost a human adventure; we have been working on this project for several months now with the founders of Luxamed and we are convinced that it opens up major industrial and commercial prospects in all the markets in which we are currently present. It will make our brand portfolio more attractive, boost the decarbonisation of our activities through Made in Europe manufacturing, and strengthen our capacity for innovation with the aim of helping healthcare professionals to care for their patients”.

Matthias Dubb, Bernhard Winter and Harald Bühler:We’ve been familiar with the Spengler Group for several years now. It was only natural that we should come together when we were thinking about significantly accelerating our growth momentum. The synergies in terms of products are obvious and our corporate cultures are very similar: leading brand strategy, innovation, ethics and flexibility.”

Mayeul Caron and Victor Cabaud, Partner and Senior Associate at Andera Partners, say: “This is the fourth acquisition we have made in two years, three of which were transformational. With Luxamed, we are completing the transformation of a French player in the medical equipment sector into a European leader in the manufacture of high added-value medical diagnostic equipment, which was our original investment thesis. We are continuing to strengthen the Group’s brands and product offer, its capacity for innovation and control of supply chains in an increasingly demanding environment, where health must be protected and growth should be as sustainable as possible. The Spengler Group’s decarbonisation targets will shortly be approved by the SBTi (science-based target initiative), validating the Group’s contribution to the international effort to limit global warming to below 2°C”.

Stéphane Colin and Khaled Ben Jennet, Partners at AfricInvest Europe, add: “We are delighted to support Spengler Group in this latest acquisition, which will strengthen its industrial facilities, its value proposition in medical devices and its international presence”.

As a majority shareholder in Spengler Group since 2021, Andera Partners, together with AfricInvest Europe, is supporting the management team led by Joël Malabat in scaling up the group. With sales of €25 million, Spengler Group has the growth momentum and operational efficiency to play an active role in consolidating its market both in France and abroad.

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