Activ Medical Disposable, a French manufacturer specialising in the design and production of urinary incontinence protection, has welcomed Crédit Mutuel Alliance Fédérale subsidiary Crédit Mutuel Equity as an investor. Crédit Mutuel Equity has acquired a 28% minority stake alongside management and the company's existing shareholders.

AMD was founded in 2006 by Philippe Pages and Frederick Réquier, and specialises in adult incontinence products. In order to meet all market requirements, the company immediately invested in a factory and modern logistics centre on a 29,000 m2 site in Rouvroy. Since then, the company has continued to invest in its site, to meet demand and increase production capacity to 300 million units per year by the end of 2016.

AMD products deliver excellent performance and great value. They are sold under AMD's own brand and retailer own brands, via networks of medical equipment resellers working with public and private sector healthcare providers. In late 2016, AMD won a major contract from APHP, the public-sector hospital system for the Paris region.

Ten years since it was created, AMD has been able to retain its spirit of flexibility and responsiveness, giving it a competitive advantage that enables it to provide consumers with the best protection and comfort at prices lower than those of the market leaders. In 2016, the group generated revenue of more than €60 million, with more than half coming from outside France (Spain, Germany, Belgium and the UK).

With Crédit Mutuel Equity's (formerly CM-CIC Investissement) support, AMD is planning to continue its development in France and abroad. It currently has 140 employees and is aiming for revenue of €100 million within three years. That growth is being supported by a new €16 million investment plan covering both its Rouvroy site and its new production unit in Zaragoza in Spain, enabling AMD to double its production capacity.

"In less than 10 years, AMD has carved out a significant position in a concentrated market, with a market share of around 10% in France at the end of 2016. AMD is a great manufacturing story and we are delighted to be able to support its numerous development plans", said Amaury Leleu, Principal at Crédit Mutuel Equity.

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Crédit Mutuel Equity

Investor advisors

  • EY (financial due diligence)
    Mathieu Jaud de la Jousselinière
    Pierre-Guillaume Fayet
    Bastien Geiler

Cabinet Lamartine (legal and corporate due diligence)

  • Fabien Mauvais
    Camille Le Foyer de Costil
AMD
  • Philippe Pages, Chairman and Chief Executive Officer
  • Frederick Réquier, Managing Director

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