Fosun International Purchases Alma Lasers
Harris Williams, one of the foremost middle market investment banks in the world, recently announced the sale of Alma Lasers to the subsidiaries of Fosun International. The developer and manufacturer of laser light based, radio frequency as well as ultrasound equipment used for aesthetic and medical applications was sold to the strategic buyer from China.
The cost of the said sale was at the company's enterprise value of US$220 million. Alma Lasers is a portfolio company of TA Associates and Harris Williams was its advisor regarding the sale that was completed last May 27, 2013.
According to Thierry Monjauze, Managing Director at Harris Williams & Co., "The acquisition of Alma Lasers by Fosun International is the largest technology-focused investment in Israel by a Chinese acquirer and represents a landmark transaction. We were delighted to work with the management of Alma Lasers and TA Associates on the sale. The management team and TA Associates have built an exceptionally high quality platform by focusing on delivering innovative multi-application treatment systems that offer considerable value to aesthetic and medical practitioners."