Published On: Sun, Apr 2nd, 2017

Apax Acquires Israel’s Syneron for $400-500 Million

Syneron has been looking for a buyer since February. Two main Israeli competitors, Lumenis and Alma Lasers, were sold both to Chinese companies.

Shimon Eckhouse- Syneron and Lumenis

 

British private equity fund is in talks to buy aesthetic device company Syneron Medical for $400-500 million. Two month ago it was reported that Syneron was looking for a buyer.

According to Calcalist, representatives from Apax met Syneron executives in Israel last week and the talks are being managed by Barclays.

The Israel-based company i s developing and manufacturing a range of electronic devices and associated products for use in nonsurgical cosmetic procedures, for body contouring, hair removal and wrinkle reduction. The products are sold under two brands. The other one is Candela.

China’s XIO Group Acquires Israeli Lumenis for $510 Million

The company’s two main competitors, were sold both to Chinese. Privately-held Alma Lasers was sold to Fosun Pharma for $240 million, and Lumenis was sold to private equity firm XIO for $510 million.

Syneron was founded in 2000 by chairman Shimon Eckhouse, who owns 7% stake. Mr. Eckhouse is also the founder of Lumenis, the company he was ousted from in a hostile takeover.

The two companies he founded competed head to head, while Eckhouse obtain Lumenis in its performance.

They both were start traded in 2014 on Nasdaq at the same market caps and now being sold at the same price.

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