Duke Street exits Medi-Globe Group in €245m deal with DCC Healthcare

Medi-Globe is a manufacturer and distributer of medical devices which sells into more than 120 countries.

  • DCC Healthcare is a wholly owned subsidiary of DCC plc
  • Duke Street made an initial investment in the company in 2016
  • Medi-Globe Group has manufacturing facilities in the Czech Republic

Duke Street announced on Thursday that it has agreed to sell Medi-Globe Technologies to DCC Healthcare for an enterprise value of approximately €245 million.

DCC Healthcare is a wholly owned subsidiary of DCC plc, a FTSE 100 listed international sales, marketing and support services group.

Medi-Globe is a manufacturer and distributer of medical devices that sells into more than 120 countries. The business is headquartered near Munich and has manufacturing facilities in the Czech Republic and sales and marketing operations in Germany, France, Austria, Netherlands, China, Czech Republic and Brazil. The company had revenues of approximately €120 million in 2021.

“Our investment in Medi-Globe represents a classic Duke Street deal: an attractive entry multiple we delivered by seeing through a complex process; working with exceptional management to invest in growing the business swiftly and successfully during our period of ownership; and adding international expansion and securing an exit to trade, taking Duke Street’s recent record to twelve trade sales out of our last fifteen exits,” said Charlie Troup, managing partner at Duke Street.

London-based Duke Street Private Equity invests in mid-market Western European businesses. It invests across the consumer, healthcare, industrials and engineering and services sectors. It typically looks to invest in companies with an enterprise value between £50 million ($58 million; €58 million) and £350 million. Duke Street has deployed approximately £600 million in the healthcare space since 1997.