Germany-based 7days, which supplies workwear to the healthcare industry, agreed to buy Denmark-based peer Praxis Herning A/S.
As part of the transaction, Praxis majority shareholders Jesper Rasmussen and Søren Wortmann, the company's managing directors, will continue to run the business and are acquiring a stake in 7days.
Praxis provides clothing for medical professionals in the Nordic region. A portfolio company of private equity firm Silverfleet Capital Partners, 7days supplies medical clothing and accessories in Germany, Austria, Switzerland, France, Belgium and the Netherlands.
McDermott and Moalem Weitemeyer Bendtsen were the legal advisers to 7days on the deal, with Latham & Watkins serving as tax structuring adviser, Shearman & Sterling as legal banking adviser and Deloitte as financial and tax adviser.