Munich -– Munich-based industrial holding ADCURAM Group AG (Adcuram) has sold the Duran Group (Duran) to private equity firm One Equity Partners (OEP). A corresponding agreement was signed on 28 November. The transaction is currently awaiting approval from the cartel authorities.

Duran is one of the world’s leading manufacturers of borosilicate glass, a special-purpose glass which is highly resistant to chemicals and temperature. It is mainly used for laboratory glassware, in chemical process engineering and in home appliances. Duran has some 700 employees and generates sales of around EUR 100 million. With its premium DURAN® brand, a strong global sales network and production facilities in Germany, the UK, Croatia and India, Duran is the undisputed worldwide technology, quality and innovation leader, with a particularly strong position in the premium laboratory glass market.

Adcuram acquired Duran from Schott AG in 2005 as part of a carve-out. Under Adcuram’s leadership, Duran has over the past ten years greatly improved production efficiency, gained major long-term customer contracts, enhanced its brand image, significantly increased the flow of new products and invested in its technology base and in geographic growth. In addition, Duran has made successful add-on acquisitions in the UK and India, thus adding new brands, materials and regions.

“Together with the management of Duran, Adcuram has transformed the non-core business of a corporate group into a highly successful mid-sized global market leader over the past decade. This success has been based on Adcuram´s in-depth involvement, their detailed business understanding and strategic competence. This has been a fantastic period for the company and for us personally as the senior management team. We now look forward to working with OEP as a strong international investor and to continuing the development of Duran, especially strategically,” said Armin Reiche, Duran’s CEO.

“With a global market share of over 70%, Duran is the technology and quality leader in the premium laboratory glass segment. The company represents a significant boost to our portfolio in the healthcare sector. We are delighted to be able to support Duran’s management in driving the company’s future growth and expanding its market position,” commented Dr. Jörg Zirener, partner and Managing Director at One Equity Partners.

“We have worked intensively with Duran for ten years. Today, the company is in an excellent position operationally, strategically and financially. We are confident that OEP, as an experienced and financially strong international investor, will provide solid support for management in implementing the firm’s growth plans. We would like to thank the management team and all the employees for their superb cooperation. We are proud of what we have achieved together,” said Dr. Florian Meise of Adcuram’s Executive Board.

Adcuram was advised on the transaction by N+1 (M&A), P+P Pöllath+Partners and TRACC Legal (legal) and PwC (VDD). OEP was advised by Freshfields (legal) and EY (FDD).

About OEP

One Equity Partners (OEP) is an international private equity partnership which supports compelling business ideas that create synergies and growth. Since inception in 2001, OEP has managed a total of approximately USD 14 billion in fund assets for JPMorgan Chase & Co and delivered strong returns throughout this period. In the last 13 years, OEP has proved to be a valued business partner for family businesses and management teams in Europe and America. OEP’s financial resources are backed by entrepreneurial spirit and commitment, with the aim of making the crucial difference for the most important asset: the customer. OEP manages its business from offices in New York, Chicago and Frankfurt. In recent years it has successfully supported a range of companies, including AMAG, ArthroCare, Constantia Flexibles, Mauser, MedVest, Quintiles, Süd-Chemie, Vacuumschmelze and Wright Medical.