hg medical, an implant manufacturer for orthopaedic surgery with production sites in Germany and West Virginia, has a new majority shareholder in NORD Holding. The founder and CEO Johannes Hagenmeyer as well as key members of the management team will remain in their positions and will retain a significant share in the company. COO Craig Bluett is appointed as a further managing director and invests in the company alongside other executives.

Pava Partners exclusively advised the American and German shareholders of hg’s group holding company, hg Darco Group LLC, during the transaction process. The transaction includes the two entities hg medical GmbH in Germany and hg medical LLC in the USA. The parties involved have agreed not to disclose financial details.

Johannes Hagenmeyer and Craig Bluett: “For over a decade, we have built our business philosophy on the demands of the medical device industry, with quality and trust being integral to the reputation of our business and everything we do.  When we hired Pava Partners, our expectations of them were no less. The Pava Partners team fully delivered! As well as the exceptional expertise in their field, reassuringly guiding us every step of the way through the details of the financial and processual matters, they brought a comforting level of knowledge of the medical device industry.  The professionalism, dedication, and impressive work ethic of the Pava Partners team have made a lasting impression with us making this journey exciting, educational and ultimately enjoyable. Our expectations at the start were high, and, in delivering, Pava Partners managed to raise the bar even higher!”

About hg medical

hg medical is a vertically integrated contract manufacturer for orthopaedic implants. Its customers are primarily US based large medical technology companies, which are supported by hg medical in the technical implementation of product innovations, development services and individual customer solutions. The focus is on technically demanding and complex implants.

The company currently employs 143 people at two locations in Raisting, Bavaria and Huntington, West Virginia.

About NORD Holding

With a 50-year history and assets under management of € 2 billion, NORD Holding is one of the leading private equity asset management companies in Germany. Their focus lies in their direct investments and fund of funds investment divisions. Direct business focuses on structuring and financing corporate succession models, the takeover of group divisions/subsidiaries and expansion financing for medium-sized companies. In contrast to most other financial investors who only manage funds for a limited period, NORD Holding acts as a so-called “Evergreen Fund” with no time limit and invests from its own balance sheet. At present the company is invested in more than 10 companies in Germany and German-speaking countries.