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HELSINKI, Finland/BREA, Calif., US: As recently announced by Planmeca, one of the largest privately owned manufacturers in the dental field, has entered into a binding agreement to acquire the KaVo treatment unit and instrument business from Envista for up to US$455 million (€383 million), including a potential earn-out payment of up to US$30 million. The transaction is expected to close at the end of this year.
The business to be sold is part of Envista’s equipment and consumables segment, and the business’s revenue was approximately US$357 million and US$317 million in the fiscal years 2019 and 2020, respectively. Envista’s imaging business, which currently also uses the KaVo brand for select products, will remain with Envista as part of the equipment and consumables segment.
Planmeca will acquire a 51% stake of the KaVo treatment unit and instrument business, and the remaining 49% will be bought by Planmeca founder and President Heikki Kyöstilä as a private individual.
According to Planmeca, the acquisition will strengthen Planmeca’s and KaVo’s positions as leading providers of innovative dental solutions and increase Planmeca Group’s annual revenue to more than €1.1 billion (US$1.3 billion).
“Envista is focused on its strategic priorities to build and optimise a more consumables and digitally enabled workflow-oriented portfolio. This sale will better position Envista to invest organically and inorganically and expand our product offerings within these areas,” said Envista’s CEO, Amir Aghdaei, in a company press release.
Kyöstilä commented in a Planmeca press release: “This partnership will make us a very strong player in the dental field. I believe our companies are a great match—we share the same standards and passion for high technology, quality and innovation, and for offering a complete digital workflow for our customers. We also share similar company cultures with a strong family business heritage. Caring for our employees and focusing on our customers have always been important values for us both.”