Prior to the completion of this transaction, MBL was 70% owned by the Lauritsen family, who founded the company in 1988, with the remaining 30% ownership held by Accession Mezzanine Capital III, a fund advised by Mezzanine Management. As a result of this deal, the Fund has indirectly acquired 48% of MBL while the remaining 52% will continue to be owned by the Lauritsen family.

The acquisition of MBL is the first deal for the Fund to be completed outside the Baltic States and was executed through a portfolio company that is 100% owned by the Fund.

MBL specialises in the production of wheelchairs, rollators, aged care beds and other rehabilitation equipment. Its head office is in Denmark, with manufacturing facilities located in Poland and China. MBL had sales of €66 million in 2019. The Company has a particularly strong R&D track record with more than 60 patents registered under its name. MBL is primarily a contract manufacturer and includes leading global medical mobility device brands among its clients.

Nerijus Drobavičius, Partner at the Fund, commented:“We are very excited
to continue investing in the broader healthcare sector which offers enormous growth opportunities in Europe and beyond. We are delighted to be partnering with the Lauritsen family who has built MBL into a true world leader of medical mobility devices with a proven track record for R&D and innovation. We are confident that MBL will continue to cement this position by expanding its product range which significantly benefits the quality of life for those who depend on MBL’s products.”

Mogens Bichel Lauritsen, CEO of MBL, commented:
“In connection with a generational change in the MBL Group, we have, for a long time, been searching for a new partner for MBL. After numerous meetings with the INVL Baltic Sea Growth Fund team, we are convinced that we have selected exactly the right partner who can contribute to ensuring MBL's continued, global growth. I will, at the same time, pass the role as CEO on to Martin Bichel Lauritsen, who is the next generation of the MBL family. As Managing Director of MBL Poland and MBL China, Martin has already been at the front line for many years. Our customers will therefore not notice any difference in the management or in the service to which we have always given the highest priority. I will continue to be involved in the daily operations, where I will primarily focus on working with product development. Finally, I would like to take this opportunity to say thank you to our many loyal employees, customers, suppliers and other business partners for the very positive cooperation that we have had through the years.”

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