On November 13, 2024, Schivo Medical, an Ireland-based medtech contract manufacturer, announced and closed a strategic recapitalization led by Five Arrows, the alternative assets arm of Rothschild & Co. The transaction involved Five Arrows acquiring a majority stake in Schivo, enabling MML Growth Capital Partners Ireland to fully exit its minority position. Though the exact value was undisclosed, Five Arrows typically invests between €30 million and €400 million, equivalent to approximately CAD 44 million to CAD 588 million at the time of the deal (1 EUR = 1.47 CAD).

Schivo has expanded significantly since 2017, acquiring three North American companies—including APN Global in Quebec—establishing a strong Canadian presence alongside U.S. operations. With over 500 employees across Ireland, Canada, and the U.S., the company is a key supplier in robotic-assisted and minimally invasive surgery manufacturing.

Legal advisors and deal teams were pivotal. Schivo was advised on Canadian legal matters by Fasken, with a team including Gesta Abols and Cole Halbert (Corporate/M&A), Armand Benitah (Intellectual Property), and Pamela Alvarado (Corporate Paralegal). Irish legal counsel was provided by Shannon O’Connor and William Fry, with Deloitte (corporate finance), PwC (tax), and Grant Thornton (financial diligence) also supporting. Five Arrows was represented by Shoosmiths (UK legal), A&L Goodbody (Irish legal), Piper Sandler (M&A), Alvarez & Marsal (financial), and EY (tax). No underwriters or dealers were involved due to the private equity nature of the transaction.