Latham & Watkins Advises Carlyle on the Sale of exocad to Align Technology

Latham & Watkins LLP advised The Carlyle Group on the sale of exocad Global Holdings GmbH (exocad), a global leader in the dental CAD/CAM software market, to Align Technology, Inc. (Align Technology) for approximately €376 million in cash. The acquisition will be to completed in the second quarter of 2020.

exocad is headquartered in Darmstadt, Germany, and has five offices worldwide. The company was spun out of the Fraunhofer-Institute for Computer Graphics Research IGD in 2010 and it has since established itself as an independent developer of dental CAD/CAM software solutions. exocad software has been chosen by leading OEMs worldwide for integration into their dental CAD/CAM offerings, and thousands of exocad DentalCAD licenses are sold each year. Today, exocad's products are being used in over 150 countries worldwide.

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with US$176 billion of assets under management across 127 funds and 164 fund of funds vehicles as of June 30, 2016.

Align Technology designs and manufactures the clear aligner system Invisalign® and iTero® intraoral scanners and services.

Latham advised The Carlyle Group in the transaction with a team led by Munich partner Burc Hesse, with partner Sebastian Pauls, associates Corinna Freudenmacher, Andreas Holzgreve and Hamburg associate Jacob Ahme. Advice was also provided on tax matters by Munich partner Stefan Süß and counsel Ulf Kieker; on banking and finance matters by Munich partner Thomas Weitkamp and associate Philipp Büchler; on antitrust matters by Frankfurt partner Max Hauser.