Duarte, Luís MotaBursche, Maximilian2023-07-282023-07-282023-01-112022-12-16http://hdl.handle.net/10362/155935Gerresheimer 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 established 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.engGerresheimerLboBuy-and buildCarve-outValuationmaster thesis203311779