DEEN
Entry into new markets
€63.8mn
Equity investment
€38mn
Revenue 2017 (EXP.)
180
Employees 2017

KEY FACTS AT A GLANCE

  • Plans to forge ahead with internationalisation
  • Expansion of manufacturing capacities and sales organisation
  • Strong market growth; revenues expected to be well above prior-year level

POLYTECH HEALTH & AESTHETICS GMBH

Investment by
DBAG FUND VI

€63.8MN

DBAG'S INTEREST

€12.1mn

MANAGEMENT BUYOUT
Shareholders:
DBAG FUND VI

97.2%

EQUITY SHARE BELONGING TO DBAG

18.5%

other shareholders

2.8%

First invested

OCTOBER 2016

REVENUES in €mn

 

23

 

2015

 

31

 

2016

 

38

 

2017 (EXP.)

As of 30 September 2017

30

percent

average annual revenue growth between 2013 and 2016

We intend to support Polytech in consistently focusing on the medical-technical advancement of its implants as well as on its excellent ‘made in Germany’ manufacturing quality. We are very pleased to have settled the succession issue in this family business by way of a management buyout. This is again proof of our outstanding position in Germany’s Mittelstand.

TOM ALZIN
MANAGING DIRECTOR

PROFILE

Polytech is a leading player in Europe in the development and production of silicone implants and is the sole German manufacturer of such products. The company specialises in breast implants used in reconstructive surgery after illness and in aesthetic plastic surgery.

The company has grown strongly in recent years. This expansion is based on production (under clean-room conditions) in Germany, which conforms to the highest quality standards, and the company’s innovative capacity. Polytech has developed surface textures for its products that lead to a clear reduction in the rate of complications.

POTENTIAL FOR DEVELOPMENT

In view of the very positive response to implants “made in Germany”, Polytech has considerably expanded its sales activities. At the moment, the company generates around 40 percent of its revenues in Germany and in other western European countries. However, its implants are increasingly being distributed worldwide, currently in over 70 countries. Polytech serves a growth market that is expected to develop worldwide at an annual rate of around six percent in the next few years. A number of factors act as drivers for this, including growing prosperity and demographic change in industrialised countries. Prior to DBAG’s investment, Polytech was a family-run business, and is now at a new stage in its development.

FINANCIAL YEAR 2017

DBAG and DBAG Fund VI acquired a majority stake in Polytech in the fourth quarter of 2016. The company continued to pursue its strategy in the first year of the investment, reporting a sustained growth dynamic. Polytech is expecting its revenues to be up considerably in a year-on-year comparison. This positive development will be based on the expansion of the company’s capacities for clean-room production, a project that was completed in 2017. The resulting costs are reflected in earnings, which are likely to be slightly below budget.

OUTLOOK AND OBJECTIVES

In 2018, Polytech plans to push forward with the measures agreed at the start of the investment, focusing on the further expansion of its international sales organisation, for example. The aim is to further improve the company’s competitive position on both new and existing markets. Polytech expects the demand for its products to remain high and plans to achieve further growth based on its additional production capacities.

Responsible team member

Tom Alzin
Tom Alzin

Managing Director

Tom Alzin
Name:
Tom Alzin
Investment focus:
Management buyouts
Telephone:
+49 69 95787-219
E-Mail:

Tom Alzin

Managing Director

Tom Alzin joined Deutsche Beteiligungs AG in 2004 and became a Managing Director in 2011.

He studied Business Administration at HEC Lausanne and at the London School of Economics.

Tom Alzin has more than twelve years of experience in private equity. During that time, he gained a wealth of knowledge, particularly in the mechanical and plant engineering and in the services sector. Tom Alzin was involved in numerous acquisitions and realisations and also in the IPO of Homag. The realisations of Homag and Spheros, subsequent to their very successful development, are two of his most successful transactions. Tom Alzin also led the investment process in FDG, Pfaudler, Schülerhilfe, Telio, Polytech and duagon and sits on the advisory councils of the companies, which are still part of the DBAG portfolio.

Current portfolio companies

Duagon Holding AG Telio Management GmbH Polytech Health & Aesthetics GmbH Pfaudler International S.à r.l.

Former portfolio companies

Tom Alzin

Managing Director

+49 69 95787-219
tom.alzin@dbag.de