MBL is a family owned producer and service provider of solutions for the rehabilitation industry The investment thesis was based on attractive market dynamics, a clear market leading position globally, a diversified customer base across different geographies, a strong upside potential, and secured downside protection. The company enjoyed reliable customers and longstanding relationships which offered strong growth prospects  in a promising market. ACP provided debt & equity to support refinancing of the group and enabling the expansion and partial cash-out to the shareholders facilitating generation change. The mezzanine and equity investment totalled EUR 14.3m and comprised EUR 9.3m mezzanine and EUR 5m equity investment. The investment enabled quick refinancing of the senior debt after the ACP deal closing. During the investment period, ACP provided several forms of support to the company. They assisted in working capital financing, enabling the company's growth initiatives. ACP also facilitated the buy-back of a minority investor, which resulted in stronger corporate governance rights for the company. In addition, ACP helped the company achieve a partial cash-out, allowing for a smooth transition in ownership. They also provided support in negotiations with senior banks, leading to a successful refinancing of the entire group and a reduction in interest costs. Furthermore, ACP played a role in the recruitment process of a Group CFO, ensuring the company had a qualified financial leader. Exit was realized in late 2020 (due to COVID pandemic ACP supported the deal with vendor financing that was eventually refinanced in 2021) on the back of improve and strong financial performance following a broad competitive process that resulted in strong interest from financial and strategic players. Eventually the exit was completed via recapitalization on occasion of minority equity sale to a private equity fund, INVL Baltic Sea Growth Fund. The buyer key rationale was defensive characteristics and past positive experience with the broader healthcare sector which offers strong growth opportunities. The leading position of the MBL in the global market with proven track record for R&D and innovation has been yet another rationale for the investment.