Milbank LLP advised Klingel Medical Metal Group, a portfolio company of funds owned by IK Partners, on the financing of the acquisition of Swiss-based MedTech company Ruetschi Technology Holding. This transaction represents the fourth acquisition for Klingel since IK Partners acquired a majority stake in Klingel in 2018.
Ruetschi Technology Holding is a contract manufacturer of medical devices, with a special focus on sterile packaged single-use procedure kits for orthopedic, spinal and dental surgery. Ruetschi was founded in 1960 and employs more than 200 people at three production sites in Muntelier (Switzerland), Yverdon (Switzerland) and Renquishausen (Germany). Like Klingel, Ruetschi is a leading one-stop source with significant expertise in engineering, product innovation and development, and regulatory requirements. The company operates state-of-the-art machinery and has several top MedTech OEMs as customers.
The acquisition further strengthens Klingel's leading position as a MedTech CMO in Europe and as a key partner for its global customer base with highest quality requirements.
The Milbank team that advised Klingel on the financial aspects of the transaction, was led by partner Barbara Mayer-Trautmann and included associates Jennifer Seipelt and Anna Merkl (all Finance, Munich).
