POELLATH advises Veonet Group management on sale to OTPP and PAI
Ontario Teachers’ Pension Plan Board (“OTPP”) and PAI Partners (“PAI”) have acquired a majority stake in Veonet Group (“Veonet”), a leading pan-European network of eye care clinics. The seller was the Swedish private equity firm Nordic Capital IX. POELLATH advised Veonet’s management on the management participation in relation to the transaction. The financial terms of the transaction were not disclosed. The acquisition is still subject to customary regulatory approvals.
Munich-based Veonet Group operates more than 190 ophthalmology clinics in Germany, the United Kingdom, the Netherlands and Switzerland. The company serves more than 1.2 million patients each year, works with all health insurers and supports national health care. Veonet is committed to helping every patient achieve a lifetime of healthy vision, contributing to their overall health and well-being.
OTPP is the administrator of Canada’s largest single occupational pension plan with net assets of 227.7 billion Canadian dollars. It has a diversified global portfolio of assets, approximately 80% of which are managed internally.
PAI Partners, a French private equity firm, invests in market-leading companies around the world.
POELLATH advised the management of Veonet Group on the transaction regarding the management participation with the following Munich team:
- Dr. Benedikt Hohaus (partner, lead, management participation/private equity).
- Johanna Scherk (associate, management participation/private equity)
