TA Associates, a growth private equity firm, has signed a definitive agreement to invest in Amann Girrbach, a developer, manufacturer, and marketer of equipment and consumables for dental reconstruction.
As part of this transaction, Alpine Equity, formerly Hypo Equity, will sell its stake in Amann Girrbach, the companies said. Additionally, current owners of Amann Girrbach will sell a portion of their stake. Terms of the investment were not disclosed.
Amann Girrbach, which has approximately 220 employees, develops systems and consumables for dental laboratories and exports them to more than 70 countries. Research and manufacturing facilities are located in Koblach, Austria, with sales and distribution based in Pforzheim, Germany. The company opened its U.S. facility in 2005 in Spring Hill, FL.
Oliver Amann and Jutta Girrbach will continue representing the founding families on the board of directors. Marco Ratz, previously head of sales and marketing and now the new CEO of the company, has succeeded Rudolf Schwarzinger as a member of the board.
Since it joined Amann in 2003, Alpine Equity has been steering this medium-sized enterprise's strategy of international expansion. Substantial investment was made in product innovation and the extension of a global sales and marketing system to expand Amann Dental, which merged in 2004 with Girrbach Dental.
Since Alpine Equity joined in 2003, the dental company has been able to increase turnover from 7.2 million euros ($9.9 million U.S.) to approximately 46 million euros ($63.6 million U.S.).
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