The deal will allow 3Shape to leverage EQT’s in-house digitalisation team, global healthcare sector team and global advisory network to support its growth
Swedish private equity firm EQT has agreed to buy a 20% stake in the Danish dental technology firm 3Shape.
Through its EQT IX fund (EQT Private Equity), the firm will acquire the stake from 3Shape’s founders, who will continue to be its majority shareholders.
3Shape is engaged in developing and manufacturing of intra-oral scanning solutions and CAD/CAM software solutions for dentists and dental laboratories.
As new shareholder, EQT Private Equity is expected to support and advance 3Shape’s strategic vision of digitalising the global dental industry.
It is expected to support the company’s roll-out of additional digital services, and strengthen its global position with continued expansion.
The transaction is expected to be completed in the first quarter 2022.
3Shape board of directors’ chairman Jørgen Jensen said: “We are pleased with the confidence that EQT has shown us by investing a substantial amount in becoming a co-owner of the company.
“This long-term partnership will strengthen 3Shape and help us deliver on our vision of continued innovation, and thereby delivering unique digital solutions for the global dental industry.
“At the same time, this investment from such an esteemed investor confirms the strength of 3Shape’s business model and the company’s very exciting future.”
Established in 2000, 3Shape has manufacturing facilities and offices in China, Europe, Latin America and the US, with more than 1,900 employees.
Its products are said to reduce material consumption, improve preventive care and patient outcomes, and drive digitalisation of dentist workflows.
3Shape is allowed to use the EQT platform, including its in-house experts in digitalisation, healthcare team, advisory network, and ESG capabilities.
FIH Partners served as M&A, Accura as legal, EY as financial and tax, Ringstone as technology advisors to EQT, while Goldman Sachs and Kromann Reumert advised 3Shape.
EQT partner and Denmark head Mads Ditlevsen said: “Having followed 3Shape closely for more than a decade, we are highly impressed with its high pace of innovation and ability to drive the digitalization of the dental industry, cementing its position as a global market leader.
“We see significant global potential for 3Shape and EQT looks forward to contributing to its continued development in close collaboration with its founders, board and the management team.”