Harris Williams & Co. Advises Alma Lasers on its Sale to Chinese Strategic Buyer Fosun International

Increasing Interest for Middle Market Acquisitions by Asian Strategics
May 29, 2013

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Alma Lasers, a leading developer, manufacturer and provider of laser, light-based, radio-frequency and ultrasound devices for aesthetic and medical applications, to subsidiaries of Fosun International, a Chinese strategic buyer, for an enterprise value of $220 million.  Harris Williams & Co. acted as the exclusive advisor to Alma Lasers, a portfolio company of TA Associates. Somerley Limited, with whom Harris Williams & Co. has an exclusive relationship, provided support during this transaction. The transaction closed on May 27 and was led by Thierry Monjauze, Julien Darmon, Francois Morin and Alex Murrill from Harris Williams & Co.’s London office along with Turner Bredrup from the firm’s Healthcare and Life Sciences (HCLS) Group.

“The acquisition of Alma Lasers by Fosun International is the largest technology-focused investment in Israel by a Chinese acquirer and represents a landmark transaction.  We were delighted to work with the management of Alma Lasers and TA Associates on the sale.  The management team and TA Associates have built an exceptionally high quality platform by focusing on delivering innovative multi-application treatment systems that offer considerable value to aesthetic and medical practitioners,” said Thierry Monjauze, managing director at Harris Williams & Co.

“Following the transaction, Fosun International will leverage Alma Lasers’ market-leading product portfolio to drive growth globally and capitalize on the strong underlying market drivers for aesthetic and medical energy-based devices. The transaction also demonstrates the increasingly international appetite of Chinese strategic acquirers for high quality middle market businesses,” said Julien Darmon, managing director at Harris Williams & Co.

In addition to the sale of Alma Lasers to Fosun International, Harris Williams & Co. has completed transactions across the Asia-Pacific region including the sale of Yakima to Kemflo International, Border Foods to Mizkan Group and Stolle Machinery to Toyo Seikan as well as Nippon Life’s minority investment in Best Doctors.

Alma Lasers is a leading global medical and cosmetic energy-based (including light, laser, radio frequency and ultrasound) device manufacturer, with a comprehensive product offering and an international sales network. Alma Lasers has developed world-class R&D capabilities in the medical and aesthetic equipment manufacturing field and established a leading global brand in the market. The company has an outstanding track record of maintaining sustainable and rapid growth.

Fosun Group is one of the largest private holding companies in China, with $25.8 billion of total assets and $12.5 billion of assets under management. The Hong Kong listed parent company Fosun International (0656.HK) had a market capitalization of approximately $4.3 billion based on its share price and underlying exchange rates at the end of March 2013. As a long-term investor, Fosun International has holdings in diverse sectors ranging from pharmaceuticals and property to financial services. Globally, Fosun International and its major affiliates have over 49,000 employees and is ranked 1019 in Forbes Global 2000.