The owner families of Haag-Streit have decided to plan their succession and sell the majority of their shares in the Haag-Streit Group to Metall Zug Group, which has roughly 4,000 employees and is majority owned by the Buhofer family.
Terms of the deal were not disclosed.
The consummation of the transaction is subject to certain conditions, inter alia the approval by various anti-trust authorities, and is expected to close by end of February, beginning of March 2018.
Metall Zug is a group of affiliated industrial companies with headquarters in Zug, Switzerland, which has three divisions as per end of 2017. The division Household Appliances includes the Swiss market leader V-ZUG AG with its foreign subsidiaries and V-ZUG Kühltechnik AG, the SIBIRGroup AG, and the Gehrig Group AG. The Belimed Group builds the division Infection Control and the division Wire Processing includes the Schleuniger Group. Haag-Streit will be a fourth division of the Metall Zug Group and will have its own market presence with an unchanged brand identity.
"For us as a family business, the sustainable development of the company is of highest importance and we are glad that we found Metall Zug as an ideal partner. The present owner families will continue to support the Haag-Streit Group and the new management, either as minority shareholder represented by Christoph Haag on the board of directors and by Mr. Walter Inäbnit as honorary chairman and sparring partner for Metall Zug," according to Haag-Streit. "We are confident that we will remain a very reliable business partner in the future, being able to meet highest standards in medical technology,"