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Tecres and Keensight partner to create Demetra Holding, an independent cement and biomaterials company
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Tecres, a medical technology company that develops bone cements and bone substitutes, and Keensight Capital, a European growth private equity firm, recently announced an investment in Demetra Holding.
The goal, according to a press release, is to create an independent worldwide leader in the bone cement and biomaterials space. The new holding group will be led by Tecres shareholders and will combine two players in the field of bone cement and biomaterials: Tecres S.p.A., which is based in Italy, and aap Biomaterials GmbH, which is based in Germany. Following the transaction, both companies will continue to act as separate entities with distinct business strategies.
The two companies have positioned themselves as leaders in their respective segments, according to the release. Historically, aap has been focused on the contract manufacturing model, to supply world leading orthopedic groups with its white-labelled products. Tecres has developed a branded product line and innovations, such as the Spacer, a temporary prosthesis to treat postoperative infection, and double antibiotic cements.
Following the transaction, both management teams and operations will stay in place, including Tecres chief executive officer (CEO) Denis Faccioli and aap Biomaterials CEO Daniel Zukowski.
“The possibility brought by Keensight to set up Demetra Holding and acquire aap Biomaterials is an exceptional opportunity to mutualize experiences with one of the most respected players in the sector while allowing us to keep our autonomy and distinctive company characteristics. We are happy to start collaborating with Keensight and aap Biomaterials on this exciting project aimed to create one of the leading players in our field,” Faccioli said in the release.
Pierre Rémy, managing partner at Keensight Capital, said in the release,
“The combination between aap and Tecres will gather two seasoned and entrepreneurial international managements. We are proud to support the ambitions of these co-leaders in the highly attractive and fast growing global bone cement and biomaterials industry.”
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