Fresh capital will support international expansion and growth
Valence, France, 16 July 2018 – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces that it has agreed to acquire a majority stake in LPG Systems (LPG), the specialist manufacturer of non-surgical aesthetic and physiotherapy devices, to support the company’s continued international expansion and growth trajectory. Equity for the transaction will come from Carlyle Europe Technology Partners III and Carlyle Asia Growth Partners V. The Guitay family will remain shareholders alongside Carlyle. The transaction is subject to customary regulatory approval and is expected to close by end of September this year.
Founded in 1986 by Louis-Paul Guitay, LPG has developed a non-surgical technology that serves the global medical, physiotherapy and aesthetics markets. The company’s technology enables physicians to provide advanced solutions for a broad range of medical, therapeutic and aesthetic applications including body contouring, cellulite and fat reduction, facial rejuvenation, burn treatment, scars reduction, lymphatic drainage and neuro physical training. Physiotherapists, medical clinics as well as Spas and luxury hotels in more than 100 countries currently use LPG devices.
Key to LPG’s success is its unique, patented technology, based on cells stimulation called Endermologie®. It is a treatment that the company has developed in close collaboration with scientists and practitioners, and is widely recognized by more than 140 scientific studies and 80 medical publications. LPG’s product portfolio is designed around the concept of well-being, offering a balance between efficiency and natural, painless treatments.
Nathalie Guitay, Chair of LPG, said: “Carlyle’s investment is testament to the strength of LPG’s product portfolio and our unparalleled technology. For more than 30 years, we have invested in R&D to develop non-surgical devices with wide-ranging applications that are suitable for our customers and patients. With the support of Carlyle, and drawing on its experience in international healthcare and consumer markets, we believe we are well positioned to further grow LPG’s international presence and to broaden our customer base whilst enhancing our product portfolio and the application of our devices.”
Vladimir Lasocki, Managing Director and co-Head of the Carlyle Europe Technology Partners team, said: “LPG is a business with strong brand recognition and an incredible reputation among both medical practitioners and end customers. LPG has successfully expanded the use of its technology across a broad range of physiotherapeutic and medical-aesthetic applications, and today they are well positioned to take advantage of the rising demand for non-surgical, natural treatments.”
Ling Yang, Managing Director of the Carlyle Asia Partners team, added: “We believe there is a great opportunity to further expand LPG’s business in Asia, particularly in China and Japan, through Carlyle’s local presence. We look forward to partnering with LPG’s management team as the company continues to grow and innovate.”
About LPG Systems
For 30 years, LPG has been developing, manufacturing and marketing patented advanced technologies for the medical, physiotherapy, aesthetic and athletic markets worldwide. Endermologie® is the only 100% natural, non-invasive and non-aggressive technique that exist today. It mechanically stimulates the cells to naturally revive and rejuvenate skin. It allows simultaneous treatment of fat reduction and body contouring.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents.
About Carlyle Europe Technology Partners
Carlyle Europe Technology Partners (CETP) seeks to invest in European technology, media and telecommunications (TMT) companies. CETP’s European team of advisors provides strategic direction and resources to help accelerate the growth of companies in which CETP has invested and to support their efforts to expand internationally and to open up new market opportunities. The current fund is now the fourth one in the CETP franchise. In total, more than 143 investors from 34 countries have made commitments to CETP funds.
About Carlyle Asia
The Carlyle Asian private equity team (excluding Japan) has more than 50 investment professionals in eight offices, including Beijing, Hong Kong, Jakarta, Mumbai, Seoul, Shanghai, Singapore and Sydney. As of March 31, 2018, Carlyle’s Asian private equity platform has invested more than US$15 billion of equity, and currently has US$16.3 billion of assets under management.
In China, Carlyle has invested more than US$8 billion of equity in over 95 transactions as of March 31, 2018.
In Japan, Carlyle is the only global alternative asset manager to establish a dedicated Japan buyout fund denominated in yen. Carlyle’s Japan buyout funds, which have made 23 investments in Japan, have a track record of supporting Japanese mid-cap companies’ overseas business expansion, enhancing their operational efficiency and strengthening their management infrastructure.
The Carlyle Group
+44 (0)20 7894 3554
+86 10 57067070