All Seas Capital back Zimmer MedizinSysteme
All Seas Capital Fund I (“All Seas Capital”), a pan-European private capital fund that provides transformational capital solutions to leading founder- and entrepreneur-owned companies, announces a significant minority investment in Zimmer MedizinSysteme (“Zimmer” or the “Company”), one of the leading manufacturers of physiotherapy and aesthetics devices.
A German family run business with over 50 years’ experience, Zimmer has grown into its position today as a European leader in the design, manufacturing and distribution of best-in-class medical devices for the physiotherapy, aesthetics, and select diagnostics fields. The Company operates in over 110 countries with c.540 employees and is represented worldwide by 19 sales and production sites and a global distribution network.
Co-CEOs Armin Zimmer and Michael Zimmer, the second-generation at the helm of Zimmer, will remain in their leadership roles to drive forward the Company’s ambitious growth plans. With the investment from All Seas Capital, the Zimmer management will build on the Company’s established success, accelerating its growth through existing and new businesses, continue to invest in Zimmer’s product portfolio, and pursue M&A.
The All Seas Capital team is working closely with Armin, Michael and their team to support the acceleration of the Company’s organic growth, identify select potential M&A opportunities to supplement the businesses expansion plan, as well as strengthen the Board, and support the further institutionalisation of the Company.
Armin Zimmer and Michael Zimmer, co-CEOs of Zimmer MedizinSysteme, said:
“We are thrilled to have found in All Seas Capital a partner that truly understands Zimmer’s potential and the strength of the family business culture we have built over the past 50 years. From the start of our discussions, All Seas have listened to our needs and displayed a great degree of flexibility structuring a deal that met our mutual objectives. We are confident to have chosen the right partner and are excited about working together and continuing to build our business into a global champion.”
Emmanuel Logan-Moll, Managing Director of All Seas Capital, added:
“We are delighted to be partnering with such a well-respected business as Zimmer. Armin and Michael, when they took over their family business 20 years ago, have embarked on a remarkable growth journey to create a global leader in physiotherapy and aesthetics and we will be supporting them hands-on as they continue Zimmer’s growth trajectory. We firmly believe in the enormous potential of the Company which is underpinned by structural growth drivers such as ageing population, increasing healthcare and insurance coverage, and evolving lifestyles.”
Cristobal Cuart, Co-Founder of All Seas Capital, commented:
“We find that our strategy providing flexible, hybrid capital provides an appealing proposition to established family businesses such as Zimmer, that have already reached a certain scale but can benefit from our support and capital to serve as a catalyst for growth and further institutionalisation, while retaining control of their business and preserving their culture.”
All Seas Capital was advised by Reed Smith, Roedl & Partner, DZ Bank and Singular Group, and Zimmer was advised by Ebner Stolz, Pinsent Mason, and SGP Schneider Geiwitz.
For further information, please contact:
All Seas Capital
+44 7989 528421
About All Seas Capital
All Seas Capital is a pan-European private capital fund that provides flexible long-term financing solutions to leading mid cap companies. The team is led by Marc Ciancimino and Cristobal Cuart who co-founded and led KKR’s European mezzanine and preferred equity business, and have an extensive career track record with €3.4bn invested across 45 businesses.
We partner with and provide transformational capital solutions and board level expertise to Western European entrepreneur- and family-owned mid-market businesses who need strategic capital, but do not want to sell majority stakes. We identify businesses that already have a certain amount of scale but are in need of support and capital as the catalyst for real business growth.
All Seas Capital’s hybrid strategy, investing a combination of debt and equity, integrates ESG considerations throughout its investment process to help position its portfolio for long term, sustained growth.
Marc Ciancimino, Co-Founder
Prior to starting All Seas, Marc was a partner (“Member”) of KKR & Co where he spent a decade and started the European dimension of the firm’s private credit activities with a special emphasis on hybrid transactions. He sat on the Global Private Credit Committee and was a Portfolio Management Committee member. He started his career in 1995 at Citibank and also worked at Bankers Trust before moving to the buyside in 1999. He has invested over $1.9bn since he started his career.
Cristobal Cuart, Co-Founder
Prior to All Seas, Cristobal was a Director at KKR which he joined in 2010 where he was a senior member of the European private credit and preferred equity platform, working closely with Marc Ciancimino to launch and grow the firms European private credit and preferred equity activities. He has invested over $2.2bn into privately held businesses throughout his career.