Goldman Sachs Buys Control of Italian Medtech Firm Numantec from White Bridge
Goldman Sachs Acquisition of Numantec: Key Details and Implications
Overview of the Acquisition
MILAN, July 27 (Reuters) - The private equity arm of Goldman Sachs has agreed to acquire control of Italian medical equipment maker Numantec from White Bridge Investment, the companies said, betting on a business with steady revenues amid macroeconomic uncertainty.
About Numantec
Company Profile
Based near the northern Italian city of Mantua, Numantec supplies a range of healthcare products and drug-delivery devices. The company employs about 600 people and operates seven manufacturing facilities across Europe and the United States.
Growth Through Acquisitions
White Bridge built Numantec through a string of acquisitions after a 2021 investment in Delta Med, an Italian manufacturer of high-quality vascular access devices.
Deal Financials and Valuation
Financial Details
The companies provided no financials details of the deal.
Estimated Valuation
A person with knowledge of the matter told Reuters the sale valued Numantec at around €700 million.
Future Plans and Market Expansion
Expansion Strategy
Under its new owners, the person said, the company is expected to continue expanding in Europe and strengthening its presence in the United States, a market it entered last year when it bought rival Health Line International.
Transaction Timeline
The transaction is expected to close in the fourth quarter.
Advisers Involved in the Deal
White Bridge Advisers
JPMorgan acted as financial adviser to White Bridge.
Goldman Sachs Advisers
Goldman Sachs International advised Goldman Sachs Alternatives, the U.S. bank's business that includes its private equity activities.
Reporting and Editing
(Reporting by Elvira Pollina; Editing by Valentina Za)