AGIC Capital, an Asia-Europe cross-border growth equity firm founded by former Deutsche Bank executive Henry Cai, has acquired Fotona, a European manufacturer of high performance lasers for medical, dental and aesthetic applications.
Financial details were not disclosed.
AGIC acquired 100% of Fotona, which it bought from The Gores Group, an investment firm headquartered in Los Angeles.
"Fotona has seen exceptional growth in Europe and the U.S., its largest market, and has a strong track record for delivering innovative product lines," said Sam Sun, managing director and head of Greater China for AGIC. "China is now the fastest growing market for medical and aesthetic lasers and with our support, the business will be well positioned to become a leading brand across Asia."
AGIC plans to help Fotona to accelerate its growth in China through increased focus and resource on sales and marketing, expanding the distribution network, and obtaining regulatory clearances.
Fotona, which was founded in 1964, is now one of the leading brands of medical, dental and aesthetic laser applications across Europe and the United States.
"Through AGIC’s investment and market expertise in Europe and Asia, we can accelerate our strategy and tap into the growing global demand for ultra performance medical lasers and energy based devices," said Jeff Jones, CEO of Fotona.
AGIC reached a final closing of its debut US$1 billion fund in February. The firm aims to target investments in European small- and mid-cap companies in the areas of intelligent manufacturing, high-end equipment, advanced materials, medical technologies and environmental protection technologies, and assist with their expansion into the growing Asian markets, with a specific focus on China.