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Amoena Group, a German-based manufacturer of breast prosthetics and related products, has been bought by its management who were backed in the £69.7 million (euro102.25 million) deal by Hamburg-based private equity fund Granville Baird Capital Partners.

Granville Baird and the management team have become the group’s new shareholders after Danish medical devices company Coloplast decided to sell the business.

Coloplast, which bought Amoena in the mid 1990s, sold the group after its directors decided to focus its operations on ostomy, urology and continence care as well as the wound and skin care markets.

Granville Baird won the bidding for the company following an auction managed by ABN Amro. Amoena, which has 600 employees at its operations in 60 countries, manufactures and distributes prosthetics for women who have had breasts removed due to cancer. It also sells related products such as bras and swimwear designed to hold their prosthetics.

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