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09-29-2015

Balda Sells Entire Operating Business

Balda AG, Bad Oeynhausen, Germany, concluded a purchase agreement concerning the sales of its entire operating business for a purchase price of EUR 62.9 million. The buyers are acquiring companies, which are managed by investment company Paragon, Munich. The sale comprises all operational units of the Balda Group, i.e. Balda Medical GmbH & Co. KG, Bad Oeynhausen, Balda C. Brewer, Inc. and Balda Precision, Inc., both in California, USA, as well as Balda Medical Systems SRL, Romania and further assets.

"The purchase offer by Paragon Partners did not only exceed the fair value calculated by external experts but will also give Balda the opportunity to continue to develop as an individual company", said Oliver Oechsle, sole Management Board member of Balda AG. "By selling the operating business of the Balda Group, we are creating a significant increase in value for the shareholders. But not only the shareholders will benefit, also our employees and customers. Paragon Partners has confirmed that it will maintain the current strategic orientation and organizational structure and that it will retain all employees of Balda AG as well as the management."

Paragon Partners is a private and owner-managed investment company, aiming to sustainably improve the strategic and operating business of its shareholdings. Paragons founding partner Krischan von Moeller adds: "Under the successful management team, the Balda Group will continue as an operational unit in accordance with today's strategic orientation. We will support Balda to actively make use of growth opportunities in the areas of medical technology as well as pharmaceutical and, if needed, may provide further equity for organic and external growth."

The agreement is subject to the condition precedent of approval by the annual general meeting of Balda AG as well as the approval by the anti-trust authorities. The Management Board will shortly send out invitations for the annual general meeting scheduled for 19 November 2015. The Supervisory Board will device a new business model for the AG and present it to the annual general meeting. In this context, the annual general meeting shall also adopt a decision concerning a change of the business purpose of the company and the company name.

Company profile

Balda AG

Bergkirchener Str. 228
DE 32549 Bad Oeynhausen

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