Paris, 30 June 2011 - Weinberg Capital Partners and Initiative & Finance have sold their stakes in Amplitude to funds managed by Apax Partners, making it the company's majority shareholder alongside its founder and management team.
With the support of Apax Partners, Amplitude is poised to start a new chapter in its history and aims at becoming a leading player in the field of orthopaedic implants in Europe. To achieve this, it plans to further grow in the French market, to accelerate its international expansion, including via acquisitions, and to continue innovating in order to enrich and diversify its product range.
Founded in Valence in 1997, Amplitude designs, develops and markets orthopaedic implants for hips and knees. Amplitude markets its products to more than 300 surgeons in public and private hospitals throughout France via a unique network of exclusive agents, making it the French leading player in its domestic market. The company currently generates 25% of its revenue outside of France through its German subsidiary and a distribution network across 25 countries.
The company's success is based primarily on a comprehensive range of high-technology and high-quality products, the highest standards of service in assisting surgeons, and a differentiating business model combining reliance on outsourcing and tight control over key competencies (R&D, quality control).
Since its inception, Amplitude has enjoyed strong revenue growth. Under Weinberg Capital Partners' three-year ownership, it almost doubled its revenue and its workforce. Revenue for the period ending 30 June 2011 is expected to reach ¤46 million, up by about 25% compared with the previous year.
Olivier Jallabert, Chairman and CEO of Amplitude, said: "We thank the teams of Weinberg Capital Partners and Initiative & Finance for their support and the quality of their partnership over the past few years. Amplitude has accelerated its expansion during this period, and is set to launch new products in the coming months. The group has expanded its site in Valence, increased its R&D budget (5% of revenue), opened a subsidiary in Germany and is soon to become established in Australia. Our ambition - to become the European alternative to US majors - is intact. We aim at achieving this ambition by accelerating our international expansion, consolidating our positions and expanding our range of products. With Apax Partners as our new majority shareholder, we will be able to accelerate the implementation of this ambitious growth strategy."
Nicolas Truelle, Partner at Weinberg Capital Partners, added: "We are very pleased to have contributed for more than three years, alongside Olivier Jallabert and his team, to the strong growth of Amplitude, a symbol of French excellence in orthopaedics. During this period, with an ambitious R&D policy and a successful marketing strategy, Amplitude has strengthened its position in both the French and international markets. We are happy to be handing over to Apax Partners, which, as the new majority shareholder, will continue to expand the company, allowing it to achieve a new milestone in its development."
Hervé Descazeaux, Partner at Apax Partners, said: "Amplitude operates in a structurally buoyant market that abounds in growth opportunities, both organic and acquisition-led. The company has developed a differentiating qualitative positioning based on a sense of innovation, experience and the quality of world-renowned French orthopaedics. We are excited to be able to support Olivier Jallabert and his teams in the next stage of the company's growth. Specialising in the healthcare sector, we have strong knowledge of the public and private hospital environment in France and Europe in which Amplitude is expanding. We will provide the company with our support and expertise with the objective of making it a key player in Europe."
About Altamir Amboise
Altamir Amboise is a listed private equity company, targeting NAV per share growth.
Until the end of 2010, Altamir Amboise co-invested with the funds managed by Apax Partners, a leading private equity firm with over 30 years of investing experience. Since 1 January 2011, Altamir Amboise invests directly in funds managed by Apax Partners, in particular the Apax France VIII fund.
Altamir Amboise offers investors access to a diversified portfolio of fast-growing companies, across Apax's sectors of specialisation: Technology, Telecoms, Retail & Consumer, Media, Healthcare, and Business & Financial Services.
Altamir Amboise is listed on the NYSE Euronext Paris, Compartment B, ticker: LTA, ISIN code: FR0000053837. It is listed in the CAC Small (ex CAD Small 90) and CAC All-Tradable (ex SBF 250) indices. The total number of Altamir Amboise ordinary shares in circulation at 31 March 2011 was 36,512,301.
For further information: www.altamir-amboise.fr
Tel: +33 1 53 65 01 35
Email: firstname.lastname@example.orgInformation réglementée
Communiqués au titre de l'obligation d'information permanente :
- Activité de l'émetteur (acquisitions, cessions...) Communiqué intégral et original au format PDF :
http://www.actusnews.com/documents_communiques/ACTUS-0-24301-cp_aa_amplitude_en.pdf © Copyright Actusnews Wire
Recevez gratuitement par email les prochains communiqués de la société en vous inscrivant sur www.actusnews.com
Receive by email the next press releases of the company by registering on www.actusnews.com, it's free
|ALTAMIR||Euronext Paris||15.83 (c)||-0.06%||14 458|