Carlsquare advised Bentley on a pre-IPO that saw three top investors acquire minority stakes
Bentley Endovascular Group AB controls Bentley InnoMed GmbH, which develops, manufactures and markets implants and catheters for the treatment of vascular disease. Bentley InnoMed is the European market leader for covered stents. Over the last 5 years, Bentley has increased sales revenue by more than 20% per annum while simultaneously achieving strong profitability. Bentley Endovascular Group also controls Qmedics AG, a specialist producer of dilatation balloons and a key supplier for Bentley InnoMed.
Keensight Capital, a leading European growth-buyout firm, is committed to supporting entrepreneurs as they implement their growth strategies. Keensight invests in profitable companies with high growth potential in the technology and healthcare sectors.
A.P. Møller Holding is one of Denmark’s largest institutional investors, investing in key megatrends where its deep sectoral knowledge, operational expertise and long-term capital base can help companies realize their full potential.
Bonit Capital is a Swedish family-owned investor with an emphasis on the healthcare sector. Bonit Capital invests across sectors and asset classes, including social investments and outcome models.
Keensight Capital, A.P. Moller Holding, and Bonit Capital will support Bentley’s team,
led by CEO Sebastian Buechert, in its next phase of growth. This will include expanding Bentley’s geographical footprint, reinforcing its offering and preparing for its upcoming IPO process. As a lead investor, Keensight expects to be able to leverage its extensive knowledge, expertise, and network in the medical-devices industry in order to help Bentley achieve these goals.
Bentley’s founders and management retain control and the majority of the capital and votes in the Sweden-based holding company. Annika Sunnanväder, daughter of co-founder and major shareholder Lars Sunnanväder, is appointed Chairperson of the Board of Directors.
“We were impressed by Bentley’s seasoned and committed management team, its strong financial track record and its proven business model. We look forward to leveraging our network and capacities to support Bentley in their international expansion, especially when entering the US.” – James Mitchell, Partner, Keensight Capital
“We are delighted to have three top investors on board, a sign of the financial community’s esteem for our innovation-driven business. At the same time, the continued strong position of the founders will secure our position as an independent and long-term oriented player. Our thanks to Anders, Caspar and the Carlsquare team for expertly guiding us through the pre-IPO process.” – Sebastian Buechert, CEO, Bentley Endovascular Group AB
Carlsquare served as Lead Financial Advisor to Bentley Endovascular Group AG.