The Metall Zug Group has signed an agreement to acquire 70% of Haag-Streit Holding AG, based in Köniz, Switzerland.
The transaction is expected to be consummated during the first quarter of 2018.
Haag-Streit is a leading medical technology company in the fields of ophthalmology (diagnostics & surgical microscopy), pulmonology and optics.
The Haag-Streit Group comprises more than 20 companies in Europe, America and the Far East. Its head office is in Köniz, Switzerland, and it has additional production facilities in Switzerland, Germany, the UK and the US.
In the 2016 financial year the company and its approximately 900 employees generated sales of about CHF 200m.
As the Metall Zug Group’s fourth business unit, Haag-Streit will continue to maintain an independent market presence with its own autonomous brand.
The Haag-Streit Group generated operating profit (EBITDA) of some CHF 30m in the 2016 financial year. Its EBITDA margin was nearly 16%.
Metall Zug, an industrial group of companies headquartered in Zug, comprises three Business Units and has a workforce of around 4,000. The holding company Metall Zug AG is listed in the Swiss Reporting Standard of SIX Swiss Exchange.
Walder Wyss has been advising Metall Zug as lead counsel on all legal aspects of the transaction. The lead is being led by Alex Nikitine (partner, corporate/M&A) and further includes Valentin Wiesner (associate, corporate/M&A), Hugh Reeves (associate, IP/IT), Andreas Wildi (partner, life sciences, regulatory), André Kuhn (associate, real estate), Lukas Wyss (partner, banking & finance), Marion Bähler (associate, corporate/M&A), Fabian Looser (associate, employment), Annemarie Lagger (associate, IP/IT) and Daniel Zimmerli (managing associate, anti-trust).
