Polygiene AB has today announced that the company, through the indirectly wholly-owned subsidiary Addmaster (UK) Limited, has entered into an agreement to acquire the business related to SteriTouch from the privately owned English company Radical Materials Limited.
SteriTouch is part of the UK based privately owned company Radical Materials Limited, which was founded in 2003. Radical Materials has 11 full-time employees excluding the two founders Nick Corlett and Huw Durban), of which one full-time employee will be included in the Business. Furthermore, Radical Materials operates with the following product ranges: Konduct, Scopic, Steritype and SteriTouch which primarily consists of an antimicrobial product range.
The largest share of SteriTouch’s sales is through direct sales and SteriTouch is expected to achieve a net sales growth of approximately 20 percent during the full year 2021, compared to the same period last year. Furthermore, there are great synergy opportunities for Polygiene to increase its market share in antimicrobial products for plastics, coatings and paints. The acquisition of the Business is a 100 percent synergy deal where Polygiene will buy the customers and incorporate them into Addmaster’s production set-up.
Addmaster has today entered in to an Asset Purchase Agreement regarding the acquisition of the Business. The Business includes the Seller’s customers, formula and brand. In connection with the transfer of the Business, an employee from the Seller will also be transferred to Addmaster.
For 2021, the Business (based on unaudited preliminary figures) are expected to have a total turnover of approximately GBP 1.39 million with a gross profit of approximately GBP 0.71 million.
“The acquisition of SteriTouch is fully in line with our new growth strategy and the obvious synergies with Biomaster’s anti-microbial business, makes this a very welcome addition to the group”, says Ulrika Björk, CEO of Polygiene.
“We have enjoyed a friendly competitive relationship with the Addmaster team for many years and have always held them in high regard. The antimicrobial sector is growing rapidly, and we are delighted for SteriTouch to join the Polygiene group, where we expect it to continue to flourish”, says Nick Corlett, one of the founders of Radical Materials.
For further information, please contact: Ulrika Björk, CEO Polygiene AB (publ)
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