Polygiene acquires additive firm Addmaster


Polygiene, a pacesetter in odour management applied sciences, has entered right into a conditional settlement on acquisition of privately owned UK-based firm Addmaster Holdings Ltd, a world provider of antibacterial components for laborious surfaces. Addmaster is Polygiene’s provider of antimicrobial components and the businesses have had a robust partnership for over 12 years.

 

The acquisition worth, on a money and debt free foundation, quantities to in whole roughly SEK 374 million, the place roughly SEK 249 million is paid in money and roughly SEK 125 million is paid by way of four,564,174 newly issued shares in Polygiene. The money fee is meant to be financed by way of a directed money new concern in Polygiene, which Polygiene intends to hold out following an accelerated book-building course of in accordance with a separate press launch. The completion of the acquisition of Addmaster is conditional on the whole concern proceeds from the directed concern amounting to a minimum of SEK 280 million and that each the directed concern and the difficulty of the consideration shares are permitted at a unprecedented shareholders’ assembly.

 

Addmaster is primarily lively in laborious surfaces, which enhances Polygiene, that’s lively in textiles and tender surfaces, nicely. The corporate believes that there are important synergies inside the corporations’ buyer bases as a result of Addmaster’s prospects demand tender surfaces and Polygiene’s prospects demand laborious surfaces. Polygiene estimates that there’s a potential for whole synergies of a complete of roughly SEK 61 million in elevated EBIT throughout 2021-2023, of which roughly SEK 55 million stems from further gross sales and roughly SEK 6 million stems from value financial savings in logistics and administration.

 

Over the previous six years, Addmaster has had a gross sales CAGR (compound annual development fee) of 15 per cent and an EBITDA CAGR of 21 per cent. Through the twelve-month interval October 2019 – September 2020, Addmaster’s gross sales amounted to roughly SEK 72.5 million with an EBITDA of roughly SEK 27.6 million, equivalent to an EBITDA margin of roughly 38 per cent. For a similar interval, the brand new merged group consisting of Polygiene and Addmaster would have had professional forma gross sales of roughly SEK 130.5 million with an EBITDA of roughly SEK 29.5 million, equivalent to an EBITDA margin of roughly 23 per cent.

 

Paul Morris, founding father of Addmaster, and Sandrine Garnier, managing director in Addmaster, will proceed to be lively in Addmaster following the acquisition.

 

“The transaction is a milestone in Polygiene’s historical past and from a strategic perspective very logical given the good synergies that exist between the businesses. By way of the acquisition, we will strengthen our place available in the market with a much wider providing, which is able to speed up our already robust development,” Ulrika Björk, CEO of Polygiene, mentioned in a press launch.

 

“I’m very excited to be a part of bringing two main corporations collectively to create a world powerhouse within the antimicrobial market, utilising our joint strengths of branding, expertise and group,” Morris mentioned.

Fibre2Fashion Information Desk (JL)

Polygiene, a pacesetter in odour management applied sciences, has entered right into a conditional settlement on acquisition of privately owned UK-based firm Addmaster Holdings Ltd, a world provider of antibacterial components for laborious surfaces. Addmaster is Polygiene’s provider of antimicrobial components and the businesses have had a robust partnership for over 12 years.





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