Keensight Capital Sells Demetra to Astorg

Paris – Paul Hastings (Europe) LLP advised Keensight Capital on the sale of its stake in Demetra group to Astorg. 

Created in 2016 by Keensight Capital and Tecres management following the combination of Italy-based Tecres and Germany-based AAP Biomaterials, Demetra group develops, manufactures, and distributes products used in orthopaedic implant surgeries and spine interventions. More specifically, the company is one of the leading suppliers of bone cement, a product used for the fixation of orthopaedic implants and for the filling of vertebral compression fractures. Demetra has also pioneered the preformed spacer technology: these medical devices are ready-to-use, antibiotic-loaded temporary implants used to treat local infections that can occur to patients who have had implant surgery. 

With more than 200 employees across four facilities in Europe, the US, and China, Demetra group, whose revenues have tripled during the last five years, serves all the major players in the orthopaedic industry and has highly diversified sales in terms of geography and product mix. 

Paul Hastings’ team on this transaction was led by Olivier Deren (partner) and Vincent Nacinovic (associate) on legal aspects, Allard de Waal (partner) on tax aspects as well as Marc Zerah (partner) and Louis Rivayrand (associate) on financing aspects.

Gianni & Origoni has advised Keensight Capital on the Italian legal aspects of this transaction (Kathleen Lemmens, partner, and Dario Rovelli, Francesca Leoni and Angelica Maggioni, associates).

Astorg was advised by BonelliErede on the Italian legal aspects and Latham & Watkins on the French legal aspects of this transaction.