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Carlsquare advised NORD Holding on the add-on acquisition of HKS, as part of their buy-and-build strategy with ABJ alive

Carlsquare advised NORD Holding on its acquisition of HKS health solutions (“HKS”). This marks the second significant step in NORD Holding’s buy-and-build strategy in the CDMO (Contract Development and Manufacturing Organization) sector for nutraceutical supplements and pharmaceuticals, following the acquisition of ABJ alive GmbH in 2024, for which Carlsquare also acted as the exclusive financial advisor.

NORD Holding, headquartered in Hanover, is one of Germany’s leading private equity firms, with over 50 years of history and €4.0 billion in assets under management. The firm focuses on medium-sized businesses, growth financing, and long-term value creation, operating as an evergreen fund. Through its buy-and-build strategy, NORD Holding is establishing the newly formed 1Q Health Group as a leading European CDMO.

HKS, based in Bad-Wörishofen, Germany, and Lengau, Austria, specializes in high-quality food supplements and pharmaceuticals. Established in 2021 through the merger of three companies in the supplements industry, HKS has grown into a significant market player with over 170 employees and more than 3,000 products in its portfolio. With a high production capacity, HKS adheres to GMP and IFS/FSSC standards, offering both private-label and white-label solutions.

Through this acquisition, 1Q Health Group strengthens its European footprint and expands its capabilities in contract manufacturing, further solidifying its position as a trusted partner for nutraceutical and pharmaceutical products.

“This second transaction with Carlsquare underscores their reliable expertise in the VMS and CDMO sectors. We appreciate the team’s support in advancing our buy-and-build strategy and look forward to further collaboration in the future.” – André Seidel, Partner, NORD Holding

“The acquisition of HKS represents an essential milestone in our buy-and-build strategy for 1Q Health Group. We are creating a leading full-service CDMO in Europe, capable of supporting customers throughout the product lifecycle with the highest quality, flexibility, and delivery performance.” – Philipp Ziehr, CEO, 1Q Health Group

“Becoming part of 1Q Health Group provides HKS with an exceptional opportunity to advance its strategic goals and contribute to the development of a leading European CDMO. Together, we can better meet the growing demands of our customers.” – Dirk Sachon, co-founder, HKS

Carlsquare acted as the exclusive financial advisor to NORD Holding, continuing its successful partnership after advising on the acquisition of ABJ alive GmbH in 2024.