LimaCorporate to Be Sold to Enovis for €800M

EQT Private Equity has begun a deal to sell LimaCorporate to Enovis Corp. This transaction will make LimaCorporate part of the NYSE-listed Enovis to create a global orthopedic leader. The acquisition has an enterprise value of about €800 million, consisting of a €700 million cash payment at the deal’s close and €100 million in shares of Enovis common stock.
 
LimaCorporate was founded in 1945. The global orthopedic implant manufacturer has extensive experience in additive manufacturing, creating its proprietary Trabecular Titanium (TT) technology. LimaCorporate’s portfolio includes one of the world’s first modular shoulder systems (the SMR), the Delta hp cup family, and the Physica stem knee.
 
Today, the company’s products are sound in 49 countries with over 130,00 implants delivered every year. LimaCorporate garnered revenues of €249 million in 2022.
 
Matteo Thun, partner within EQT Private Equity’s advisory team, told the press, “LimaCorporate is a true example of sophisticated engineering and technology designed to empower surgeons and to improve patients’ life. 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 Corporation joining forces with LimaCorporate in such a strategic combination.”
 
Massimo Calafiore, CEO of LimaCorporate, said, “I am really proud of what the people of LimaCorporate have achieved over the years and I thank EQT for their partnership. The combination with Enovis Corporation is a key milestone in our journey and I am looking forward to seeing the combined Group continue to develop innovative products for surgeons and patients globally.”

“We are confident the acquisition of Lima will enable us to build on our strong growth trajectory and global leadership in orthopedic solutions to create immediate and sustainable value for our patients, customers, employees and shareholders,” added Enovis chair and CEO Matt Trerotola. “With Lima’s complementary surgical solutions and customers, we will have the opportunity to enlarge our profitable recon portfolio and further expand our global presence. In addition, this acquisition will enable us to deliver enhanced financial results through significant cross-selling revenue growth opportunities and meaningful cost synergies.”
 
EQT said it expects the transaction to close in early 2024.
 

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