Livingstone Benelux advised SHS Capital on the acquisition of CAM Bioceramics

Livingstone acted as exclusive Debt and Buy-side advisor to SHS Capital
  • jun. 2023
  • Healthcare
  • M&A: Buy-Side
  • Debt Advisory
  • Benelux
  • Germany
  • Pan-European
  • ACQUISITION
  • REFINANCING

Livingstone is pleased to announce the firm’s Benelux team has advised SHS Capital on the financing and acquisition of CAM Bioceramics B.V. (CAM or the Company). Livingstone acted as exclusive Debt and Buy-side advisor to SHS. Transaction terms were not disclosed.

CAM is a leading global manufacturer of innovative calcium phosphate solutions for Medtech and LifeScience applications. It was the first company in the 1980s to provide innovative HA plasma-sprayed coatings on orthopedic implants. Since then, their pioneering work has led to the worldwide adoption of plasma-sprayed hydroxyapatite coatings. HA Coating was the first step in the formation of the fully-fledged organization CAM is today. Applications are, amongst others, orthobiological HA coating powder for orthopaedic, dental, and spinal implants, bone graft substitutes, excipients and (CaPs) particles for injectable dermal fillers.

SHS invested in the company with the renowned Dutch ING Bank and some Co-Investors. The existing owners rolled over a significant stake in the company and will stay relevant shareholders of CAM Bioceramics securing the companies vision to be the trusted partner for innovative calcium phosphate solutions and services worldwide. The new partnership aims to further strengthen the company’s base and accelerate human and monetary investments to enhance customer satisfaction beyond current levels. Among others, CAM can now benefit from SHS’s extensive experience and network in the healthcare industry, expected to lead to additional opportunities for collaboration and partnership with existing and new customers.

“We are delighted to have SHS and ING on board, enabling CAM Bioceramics to serve our customers better and grow faster. The existing shareholders and the management team have consciously looked for the best partners to secure continuity and get access to additional and complementary business development opportunities. The partnership with SHS and ING validates our strategy and capabilities and will fuel the company’s growth even further. The management team will remain fully intact and continue to provide the best customer satisfaction possible to remain or to become your trusted partner for innovative calcium phosphate solutions and services worldwide,” explains Casper J. Hogeboom Shareholder and CEO of CAM.

 “Thanks to Livingstone’s local network and efforts in correctly positioning the company we managed to construct a suitable, fit-for-purpose capital structure that supports both our acquisition and the further growth of CAM. Throughout the process, the Livingstone team greatly supported SHS in the successful execution of the transaction by providing advice and support on deal tactics and process management,” says Manfred Ulmer-Weber, Partner SHS Capital.

deBreij acted as legal advisor, L.E.K. executed commercial due diligence, and Alvarez & Marsal acted as financial and tax advisor.


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  • WE ARE Unrelenting advocates

    We know our trade - and don't just sell figures. We develop a convincing story for your sale, which brings together all the essential aspects into a coherent overall picture.

  • WE ARE Unrelenting advocates

    We know our trade - and don't just sell figures. We develop a convincing story for your sale, which brings together all the essential aspects into a coherent overall picture.
  • "Thanks to Livingstone’s local network and efforts in correctly positioning the company we managed to construct a suitable, fit-for-purpose capital structure that supports both our acquisition and the further growth of CAM. Throughout the process, the Livingstone team greatly supported SHS in the successful execution of the transaction by providing advice and support on deal tactics and process management."
    Manfred Ulmer-Weber, Partner SHS Capital
  • "We are delighted to have SHS and ING on board, enabling CAM Bioceramics to serve our customers better and grow faster. The existing shareholders and the management team have consciously looked for the best partners to secure continuity and get access to additional and complementary business development opportunities. The partnership with SHS and ING validates our strategy and capabilities and will fuel the company’s growth even further. The management team will remain fully intact and continue to provide the best customer satisfaction possible to remain or to become your trusted partner for innovative calcium phosphate solutions and services worldwide."
    Casper J. Hogeboom, Shareholder and CEO of CAM

Key Transaction Team

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