• ADDvise Group AB (publ) has entered into an agreement with Ferno Norden AS and Ferno LLC to acquire all shares in Aktiebolaget Germa with admission planned on December 1st, 2017.
• The purchase price amounts to SEK 17 million. The Acquisition is based on a cash and debt free basis to be paid in cash.
• Germa’s production facility with a market value of SEK 4.5 million is included in the purchase.
• The fiscal year 2016, Germa had a turnover of SEK 30.1 million and generated an EBITDA of SEK 3.4 million.
Motives for the acquisition
Germa is a profitable product company that is strategically important for the Healthcare business unit, which will complement and strengthen the competence in emergency care and safety products.
– The acquisition of Germa is in line with our strategy to increase the proportion of proprietary products. There are clear synergies between Germa and our Healthcare business unit, especially in emergency care, says Rikard Akhtarzand, President and CEO of ADDvise.
Germa in brief
The company was founded in 1925 with headquarters in Kristianstad. Germa manufactures and sells healthcare products such as vacuum mattresses, child safety solutions, positioning cushions and rehab products. The fiscal year 2016, Germa had a turnover of SEK 30.1 million and generated an EBITDA of SEK 3.4 million.
Payment and purchase price
The initial purchase price of SEK 17.0 million is based on a cash and debt free basis and is paid cash. The purchase includes a production property with a market value of about SEK 4.5 million, based on the most recent valuation. The acquisition is already financed through the previous directed issue and bond issue.
ADDvise’s fourth quarter will be affected by acquisition costs of about SEK 1.3 MSEK (non-recurring costs) related to the Germa acquisition. Admission is planned on the 1st of December 2017.
Mangold Fondkommission AB is the financial adviser for ADDvise in association with the acquisition and Baker & McKenzie Advokatbyrå is the legal adviser.
For further information, please contact
Rikard Akhtarzand, CEO
+46 765-25 90 71
This information is by ADDvise required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on November 10, 2017 at 12:00 CET.
About ADDvise Group
ADDvise Group AB (publ) is a leading supplier of equipment to healthcare and research facilities. The group consists of approximately 10 subsidiaries organized into two business areas, Lab and Healthcare. Sales are global. The Group has a clear acquisition strategy with the aim of raising shareholder value and expand the business – both geographically and product wise. The Group has sales of about 250 MSEK. ADDvise shares are listed on Nasdaq First North Premier and Mangold Fondkommission AB, 08-503015 50, is the Company's Certified Adviser. Additional information is available at www.addvisegroup.com.