Perwyn has acquired European Sperm Bank from Axcel

European Sperm Bank

Headquartered in Copenhagen, Denmark, European Sperm Bank (ESB) is a leading provider of donor sperm and related services to women and couples in more than 90 countries across the world. ESB was established in 2004 and has, over the years based on wide donor recruitment and rigorous testing according to the highest industry standards, built an extensive and diverse donor base with superior-quality donor sperm and helped thousands of women and couples make their dream of a family come true.

The Deal

Perwyn will invest behind the ESB management team and employees to further expand ESB’s donor bank, its geographic coverage and its broader range of fertility services, as well as extend ESB’s industry-leading quality, compliance and technology. Lincoln International provided full buy-side process management and due diligence support throughout the transaction, as well as supporting Perwyn with industry insights, strategic advice, valuation and financial modelling. Effective cross-border collaboration enabled signing of the transaction within a limited time frame.

Our Perspective

Gunnar Brundin, Managing Director in Lincoln’s Healthcare Group, commented, “It has been inspiring to advise Perwyn on the acquisition of ESB. Donor sperm and fertility services is a high-growth niche with a significant global growth runway and substantial social impact. With ESB’s position as one of the largest donor banks in the world, the acquisition by Perwyn marks a landmark transaction in the industry. We look forward to following Perwyn and ESB on their journey for equal access to parenthood for women and couples across the world.”

Matthew Lee, Managing Director and Co-Head of Lincoln’s European Healthcare Group, added, “The women’s health and in vitro fertilization (IVF) markets rightly attract significant interest from investors and strategic acquirers, given the secular tailwinds, which has driven notable recent consolidation in the clinic space. As the IVF market continues to develop and mature, women and couples seeking parenthood are researching and becoming significantly more discerning in all areas of their treatment plans, with biomaterial availability and quality becoming a critical focus. ESB is a leader in its space and with Perwyn’s support, is at the start of the next leg of its journey to both expand and globalize its differentiated offering to benefit more couples and women seeking parenthood.”

Axcel

Axcel is a Denmark-based private equity firm with a strong focus on Nordic companies in the industrials, business services, technology, consumer and healthcare sectors. Over the last 25 years, Axcel has raised six funds with cumulative capital commitments of €2.8 billion. These funds have made 64 platform investments, with more than 150 add-on investments and 48 exits.

Perwyn

Perwyn is a European private equity company specializing in buyout and growth capital investments in four sectors: technology, services, healthcare and food and ingredients. It looks to invest in established, cash-generative market leaders headquartered in the UK or Western Europe, where they can support growth initiatives and businesses in transition in the range of £/€50-250 million enterprise value.

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