Silverfleet hits 3.1x return from sale of medical workwear maker 7Days

The deal comes on the heels of growing demand for medical supplies across Europe, as the region still fights against an alarmingly higher number of deaths by Covid-19.

Founded in 1999 in Lotte, North Rhine-Westphalia, the company employs 240 staff across four locations. 7Days produces over 2,000 products ranging from tunics and shoes to lab coats to more than 300,000 medical professional customers in 12 countries, including Germany, Austria, Switzerland, France, Belgium, the Netherlands and Scandinavia.

This is the third time the company has been taken over by private equity firms. Silverfleet acquired 7Days from German PE firm Odewald MKU, in 2017.

Since then, the company has expanded both domestically and internationally through add-on acquisitions, such as Denmark-based Praxis Herning, a supplier of medical workwear for the Scandinavian markets. 7Days’ revenues are forecasted to grow by 19% to €40m in 2020, according to Silverfleet.

The firm, set up in 2004, has invested €2.1bn in 32 companies, with nearly a third of its new investments headquartered in the DACH region. In September, Silverfleet hired Stephan Prym as an investment executive in its Munich-based team to help expand the firm’s activities in the region.

Source: Private Equity News