The Miele family group has acquired a majority stake in the Italian medical technology manufacturer Steelco. ConAlliance advised on the purchase side during the sales process.
The family-owned Miele group, based in Gütersloh,Germany has acquired a majority stake in Steelco. Ottorino Casonato, the founder and CEO of Steelco, will continue to lead the operations following the takeover.
In 2016, Steelco generated a turnover of over 70 million euros and has experienced double-digit growth rates for several years. As a result of this transaction, the Miele Group's medical technology division will see its annual turnover increase from approximately 180 million to around 250 million euros. In the 2015/16 business year, the Miele Group reported a total turnover of 3.71 billion euros and employed 19,400 people worldwide.
Both Miele and Steelco manufacture cleaning, disinfection, and sterilization appliances for medical facilities and laboratories through their medical technology divisions. Additionally, Steelco operates in the specialized segment of reprocessing pharmaceutical production components, an area in which Miele has not yet been active.
Following the takeover, Miele plans to consolidate its central sterile supply project business under a new subsidiary. Consequently, all Miele Group sterilizers and container washers will now be produced by Steelco. Marketing efforts will be more channel-specific, with medical practices, dental, and laboratory customer segments continuing to be served directly by Miele sales companies. Moving forward, the Miele Group will participate in tenders for central sterile supply projects through Steelco. Employees from the Miele sales companies in Germany, Austria, and Switzerland, who previously managed the marketing of central sterile supply projects, will be transferred to a new German Steelco subsidiary based near Gütersloh.