The Medort Group has acquired a majority stake in wheelchair manufacturer Richter R.M.S. through its German subsidiary, Meyra GmbH. Medort is a manufacturer of wheelchairs and supplier of rehabilitation equipment. The acquisition of Richter R.M.S. GmbH is part of the company’s ongoing growth strategy in the German market.
With operations spanning the globe, the Medort Group is engaged in the manufacture and sale of orthopaedic and prophylactic products as well as all kinds of rehabilitation equipment, especially electric wheelchairs. The company is headquartered in Łódź, Poland, and entered the German market in 2013 when it acquired Meyra GmbH. The purchase price was not disclosed.
"Polish companies are increasingly taking over players in other markets, in particular in EU countries. The strengths of the German market include prospects for the development of the local economy, stable rules for conducting business and the purchasing power of the population" emphasises Błażej Zagórski, Of Counsel at CMS Warsaw. "For each M&A transaction it is necessary to act efficiently and quickly and the fact that a take-over concerns a foreign company also means that the local conditions in both countries must be taken into account. In such situations, the support of a law firm that knows both markets well and provides an international team experienced in cross-border acquisitions will facilitate the prompt closing of the transaction and effectively reduce the legal risks arising from the expansion" he continues.
The Medort Group was advised by CMS Berlin on all legal aspects of due diligence and the acquisition. "This transaction is a good example of the current wave of investments by Polish companies in the German market," said Dr Igor Stenzel, a counsel at CMS with extensive experience in advising Polish firms on all matters relating to corporate law and restructuring.