Paragon Partners, one of the leading private equity firms in Europe, together with French co-investor Chequers Capital, has agreed to acquire a majority stake in 7days Group, a leading supplier of medical workwear. The management team, led by CEO Ulrich Dölken, will significantly re-invest as part of this transaction.
With the support of its new majority shareholders, Paragon and Chequers, 7days plans to further accelerate its growth trajectory in Germany and the rest of Europe in the coming years. 7days will benefit from continuing strong market trends such as the increasing professionalization of medical workwear and increased hygiene awareness in the wake of the Covid-19 pandemic, which promise future growth potential in a fragmented market.
Marco Attolini, Managing Partner at Paragon, says: “We have been deeply impressed by the attractive market dynamics and the outstanding positioning that 7days has achieved in recent years through its highest quality products and strong customer focus. We look forward to actively shaping the further development and growth of the 7days Group in partnership with management.“
Ulrich Dölken and Carsten Meyer, CEO and CFO of 7days Group: “With the support of our new partners, Paragon and Chequers, we want to continue to achieve the highest level of customer satisfaction with high-quality workwear for medical professionals. We are pleased to have two strong partners at our side, who will help us further expand our market position in the coming years.“
7days was founded in 1999 in Lotte near Osnabrück. Today, the company is a leading supplier of modern and innovative workwear for medical professions. 7days designs, produces and distributes a wide range of high-quality workwear, from tunics to lab coats, for more than 300,000 customers in the healthcare sector in twelve countries, including Germany, Austria, Switzerland, France, Belgium, the Netherlands and Scandinavia. 7days has a vertically integrated business model with diversified supply chains and distributes its products through a fully integrated multi-channel distribution platform, including both catalog marketing and e-commerce channels. This has enabled the company to achieve consistent growth in its German home market and internationally. Today, 7days employs 240 people and is expected to generate sales of over €40 million in 2020. Further details can be found on the company website: www.7days.de
Founded in 2004, Paragon is one of the leading independent private equity firms in Europe, with more than EUR 1.2 billion of equity under management. Paragon works closely with portfolio companies to achieve sustainable growth and operational excellence. The investment portfolio covers various industries and currently comprises 15 companies. The firm is based in Munich, Germany.