ADDvise acquires Seebreath AB

16-05-2022   Regulatory press release

ADDvise Group AB has today entered into a share purchase agreement with the owners of Seebreath AB (“Seebreath”) regarding the acquisition of all the outstanding shares of Seebreath. The acquisition is in line with the letter of intent communicated via a press release dated February 28, 2022. Closing of the acquisition takes place today.

Seebreath’s revenue for the financial year 2021, amounted to approximately SEK 12 million, with an adjusted EBITDA of approximately SEK 8 million, corresponding to an adjusted EBITDA margin of approximately 66 percent.

The purchase price is divided into an initial purchase price of SEK 29.0 million and three potential earn-outs given that the company achieves certain predetermined targets. The targets are set higher than the company’s financial performance 2021. The maximum amount of the first and second earn-out is SEK 4.25 million respectively. The third earn-out is based on that the company’s revenue for the financial years 2022 and 2023 combined is higher than the sellers’ financial forecasts.

The acquisition is financed through own funds. ADDvise acquisition will have a positive effect on ADDvise earnings per share during the financial year 2022.

For further information, please contact:

Rikard Akhtarzand, CEO
+46 765-25 90 71

rikard.akhtarzand@addvisegroup.se

About ADDvise Group

ADDvise Group AB (publ) is a leading supplier of equipment and services to healthcare and research facilities. The Group’s subsidiaries are organized into two business areas: Lab and healthcare. Sales are global. The Group has a clear acquisition strategy of increasing shareholder value through growth – both geographically and by product range. ADDvise shares are listed on Nasdaq First North Premier and Mangold Fondkommission AB, 08-503 015 50, CA@mangold.se, is the company’s Certified Adviser. Further information is available at www.addvisegroup.com.

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