AGIC Capital Announces Sale of Fotona

AGIC Capital Announces Sale of Fotona
25. August 2021 qfact
  • Vitruvian buys Fotona, a world leading energy-based devices (EBD) company, from AGIC Capital
  • Fotona has designed and manufactured a portfolio of market-leading medical laser systems and other EBD product lines covering aesthetics, dental and gynaecology applications

London and Munich; 24 August 2021London-based international private equity firm Vitruvian Partners LLP today announced the acquisition of Fotona Holdings (Netherlands) B.V. (Fotona) from European-Asian private equity firm AGIC Capital (AGIC) for an undisclosed amount. AGIC will reinvest alongside Vitruvian and continue to support Fotona and its management team with their international growth story.

Established in 1964, Fotona is a leading medical laser-focused EBD company. It develops, manufactures, and distributes market-leading medical laser systems and other EBDs with product lines covering aesthetics, dental, and gynecology applications.  Fotona currently serves a global customer base through a direct sales force in the US and China complemented by distributors covering over 65 countries worldwide.

Matjaz Lukac and Jeff Jones, Co-CEOs of Fotona said “We look forward to collaborating with our new equity partner in Vitruvian and believe AGIC will continue to provide constructive support in helping the business grow in Asia and beyond.”

A Vitruvian spokesperson said “Fotona operates in highly attractive segments of the global EBD market. Its cutting-edge product portfolio, strong innovation capabilities, and continuous geographic expansion position the Company optimally for future growth. We look forward to working with Management and AGIC to build on these opportunities.”

Heiko von Dewitz, Partner and Managing Director of AGIC in Europe said “We have worked closely with Fotona’s management team since 2017 to expand the business, its customer base, and innovative high-tech product lines internationally. We continue to strongly believe in the business’ potential and are excited to reinvest in it alongside Vitruvian who are well equipped to support and drive the next chapter of Fotona’s growth.”

Vitruvian was advised by Houlihan Lokey and Kirkland & Ellis. RBC Capital Markets acted as exclusive financial advisor to AGIC and Gibson Dunn & Crutcher served as legal advisor.

About Vitruvian Partners

Vitruvian is an international private equity firm that specializes in growth capital and growth buyout investments globally. The firm was established in 2007 and has c. €10.0 billion of assets under management. It is headquartered in London, with other global offices in Munich, Stockholm, Luxembourg, San Francisco, and Shanghai.

About AGIC Capital

Founded in 2015, AGIC is focused on investments in advanced industrial and medical technology companies and has more than US$2.0 bn of assets under management. It has offices in Hong Kong, Munich, London, Shanghai, and Beijing.