Axa Private Equity and Intesa Sanpaolo have agreed to buy a majority stake in Limacorporate, an Italian maker of orthopaedic devices.
Founded by the Lualdi family in 1975, Limacorporate has three production sites in Italy and employs 600 staff. The company will use the new funding to further its international expansion, with a focus on the US, Russia and Japan. It also intends to launch new products next year.
Last year the company reported revenues of €117m, two-thirds of which were generated in markets outside Italy.
As part of the deal, the investors have acquired a 66 per cent stake in the business, while the existing management team will hold on to the rest of the equity.