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Investment committee paper: gerresheimer ag - leveraged buyout: focusing on capital structure, returns and value creation
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Resumo(s)
Gerresheimer is a leading medical device and packaging manufacturer for the
pharma, cosmetics, and food & beverage sectors, and poses a unique investment
opportunity. Gerresheimer operates a sophisticated procurement network that can
be leveraged to perform a strategic shift towards the MedTech industry. This can
be accomplished by carving-out its capex-heavy moulded glass division and using
the proceeds to acquire leading players in this industry, namely Ypsomed and H&T
Presspart, to also strengthen its recently estblished internal MedTech segment. This
strategy is expected to realize a return of 3.8x (30.5% IRR), whereby the exit is
likely to be a trade sale.
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Palavras-chave
Gerresheimer Lbo Buy-and-build Carve-out Capital structure Returns Value creation