Adelis Equity Partners secures successful exit of Med Group
Adelis Equity Partners Fund I (”Adelis”), together with the company’s founders and management, have entered into a binding agreement to divest Med Group Holding Oy (”Med Group”) to a consortium consisting of Colosseum Dental Group, Europe’s leading dentistry chain, and the Tradeka co-operative which serves roughly 230 thousand Finnish members.
Adelis acquired a majority in Med Group, which caters to the public sector as well as individual customers across Finland, in 2014. During Adelis ownership period the turnover of the company has more than doubled to €100 million and the number of employees has increased from approximately 800 to 3,000. Today, Med Group is leading not only in ambulance services but also in dentistry and home services to the disabled and elderly.
Rasmus Molander, Partner at Adelis and Chairman of Med Group, says: “We are grateful to have had the opportunity to work with Med Group to contribute to solving the challenges facing the care and healthcare sectors in Finland. Together with management we have developed a leading player, in terms of quality and size, in the niches we have chosen to focus on. We are happy that also the new owners are committed to supporting Med Group’s management team in pursuing a growth strategy based on trust and quality of care”.
Med Group’s CEO Kari Virta says: “Adelis has been a great partner in supporting our growth. Through investments in people, technology and add-ons their ownership approach has provided a solid foundation for growth. Through the creativity and hard work of our employees we have been able to build leading positions in home services and dentistry in addition to ambulance services. These positions also provide a solid platform for future growth”.
Adelis was advised by Carnegie, Borenius and KPMG.
The parties have agreed not to disclose the purchase price. The transaction is subject to customary regulatory approvals.
For further information, please contact
Rasmus Molander, Partner, Adelis Equity Partners, (+46 70 823 7433)
About Med Group
Med Group is a Finnish care and healthcare services company. The company develops the quality, impact and cost-effectiveness of health services. Med Group employs about 3,000 employees in the care and healthcare sectors and has revenues of approximately €100 million. For more information please visit www.onniterveys.fi.
About Adelis Equity Partners
Adelis is an active partner in creating value at mid-sized Nordic companies. Adelis was founded with the goal of building the leading middle market private equity firm in the Nordics. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, acquiring 14 platform companies and making more than 30 add-on acquisitions. Adelis now manages approximately €1 billion in capital. For more information please visit www.adelisequity.com.