{"id":3417,"date":"2016-07-01T17:55:03","date_gmt":"2016-07-01T15:55:03","guid":{"rendered":"https:\/\/brandipruebas.com\/?p=3417"},"modified":"2026-04-27T00:58:14","modified_gmt":"2026-04-26T22:58:14","slug":"la-familia-knuth-vende-la-mayoria-de-palex-a-corpfin","status":"publish","type":"post","link":"https:\/\/brandipruebas.com\/en\/la-familia-knuth-vende-la-mayoria-de-palex-a-corpfin\/","title":{"rendered":"The Knuth family sells the majority of Palex to Corpfin Capital"},"content":{"rendered":"
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<\/p>\n<\/blockquote>\n\n\n\n

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<\/p>\n<\/blockquote>\n\n\n\n

Palex Medical begins a new stage. The Knuth family, founder and owner of the company, has sold the majority of the shareholding of the healthcare technology group to the private equity fund Corpfin Capital, for an undisclosed amount. The objective of the transaction is for Palex to strengthen its financial capacity in order to undertake a new phase of growth through the acquisition of companies in the sector and the diversification of its business lines. After growing by 8%, Palex Medical closed 2015 with sales of \u20ac106.74 million, of which 70% come from supplies to Spanish public hospitals.<\/p>\n\n\n\n

<\/a><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Source: https:\/\/www.expansion.com<\/p>\n\n\n\n

The challenge is to double revenue within five years, although these forecasts could be widely exceeded depending on the inorganic transactions that are completed. Palex already has several acquisitions on the table and will now benefit from the experience of Corpfin Capital<\/a> in integrations and build-up processes. This fund controls the bakery chain El Fornet in Catalonia and is a shareholder in the airline Volotea.<\/p>\n\n\n\n

In addition to maintaining a significant shareholding of 40%, the Knuth family will remain fully involved in the evolution of Palex and will continue to chair its board of directors, where the fund will hold four seats and the family two. The siblings Juan\u2014group chairman\u2014Verena and Pedro Knuth Schultheis, members of the third generation who have led the company together with the rest of the management committee, have already been ratified by Corpfin Capital, which relies on their experience to ensure the success of this new stage.<\/p>\n\n\n\n

The transaction is pending approval from the National Commission for Markets and Competition (CNMC) and the consent of the main international companies that Palex represents in Spain and Portugal, a country that accounts for 5% of its sales.<\/p>\n\n\n\n

Headquartered in Sant Cugat del Vall\u00e9s and with a workforce of 300 employees, the healthcare technology and supplies group operates through ten divisions and markets products from more than 400 international companies. Palex Medical<\/a>, which does not manufacture, is particularly strong in technology and instruments for cardiac surgery, such as valves and pacemakers. Orthopaedic surgery is another of its business pillars, along with the areas of diagnostics and nephrology. Among its flagship products is a system that allows dialysis to be performed at the patient\u2019s home and Oncotype, a predictive breast cancer test. The also Catalan company Werfen is one of its main competitors.<\/p>\n\n\n\n

Sector under pressure<\/h2>\n\n\n\n

The economic crisis, healthcare cuts, pressure on prices and declining margins, the progressive consolidation of the private healthcare sector and the high level of late payments by Spanish public administrations have had a strong impact on Palex, which required support from banks to overcome the situation during the recession.<\/p>\n\n\n\n

In 2012, the company had accumulated payment delays of up to 600 days, until it managed to collect most of the debt in one go thanks to the supplier payment plan promoted by the Ministry of Finance, so the situation is now more normalised.<\/p>\n\n\n\n

Palex, which recorded its revenue peak in 2010 with \u20ac113 million, returned to growth in 2015, reaching \u20ac106.7 million. With the entry of Corpfin Capital, the Knuth family wants the company to have the necessary financial resources to take advantage of the strong growth potential and opportunities offered by a still fragmented sector.<\/p>\n\n\n\n

Potatoes and sutures, the origin<\/h2>\n\n\n\n

Palex was founded by Hans Knuth\u2014grandfather of the current managers\u2014a German who arrived in Valencia in the 1930s to study Spanish and ended up staying. After working in a bank, he created Patata Lechuga Exportaci\u00f3n, a company dedicated to exporting early potatoes and lettuces. Alongside his agricultural business, in 1955 he decided to set up a factory in Rub\u00ed (Vall\u00e9s Occidental) to produce catgut sutures from sheep intestines. He did so in partnership with B. Braun, which took a 49% stake in the company.<\/p>\n\n\n\n

In addition to selling the products of his factory, Knuth began distributing other brands, and the former Patata Lechuga Exportaci\u00f3n adopted the name Palex and focused on medical supplies under the leadership of the second generation: the brothers Wemer\u2014father of Juan, Verena and Pedro\u2014and Hayo Knuth.<\/p>\n\n\n\n

The partnership with B. Braun lasted until 1991, when the German group took full ownership of the Rub\u00ed facility. In 2000, the brothers decided to separate the businesses: Wemer kept Palex and Hayo took over the family\u2019s real estate division. In 2007, the third generation chose to step back from management and appointed an external CEO.<\/p>\n\n\n\n

Want to know more?<\/h3>\n\n\n\n

Corpfin Capital y Palex Medical<\/a> \u2013 Capital-riesgo.es<\/p>\n\n\n\n

El fondo Corpfin Capital compra Palex Medical<\/a> \u2013 Expansion.com<\/p>\n\n\n\n\n View article\n<\/a>","protected":false},"excerpt":{"rendered":"

The Knuth family brings in the private equity fund with the aim of strengthening its financial capacity, diversifying the business and doubling the size of the group within five years.<\/p>","protected":false},"author":1,"featured_media":3418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sin-categoria"],"acf":[],"yoast_head":"\nLa familia Knuth vende la mayor\u00eda de Palex a Corpfin - Brandi - Pruebas<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"La familia Knuth vende la mayor\u00eda de Palex a Corpfin - Brandi - Pruebas\" \/>\n<meta property=\"og:description\" content=\"La familia Knuth da entrada al fondo de capital riesgo con el objetivo de ganar m\u00fasculo financiero, diversificar el negocio y duplicar el tama\u00f1o del grupo en un plazo de cinco a\u00f1os\" \/>\n<meta property=\"og:url\" content=\"https:\/\/brandipruebas.com\/en\/la-familia-knuth-vende-la-mayoria-de-palex-a-corpfin\/\" \/>\n<meta property=\"og:site_name\" content=\"Brandi - 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