Entrepreneurs Hub are pleased to announce that the business assets of SteriTouch, owned by Radical Materials Ltd have been acquired by Polygiene AB through their wholly owned subsidiary Addmaster (UK) Ltd.
About Radical Materials Ltd/SteriTouch and Polygiene AB/Addmaster (UK) Ltd
Radical Materials Limited was founded in 2003 by Nick Corlett and Huw Durban and continues to operate with its product ranges: Konduct, Scopic and Steritype, with a focus on antimicrobials.
SteriTouch manufacture antimicrobial additives for use in any material and provides 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. The Business includes the Seller’s customers, formula and brand.
Polygiene is listed on the Nasdaq First North Growth Market in Stockholm, Sweden. As the world leader in stays fresh technologies, Polygiene wants to change the way we view products – from fast consumables to durables. Their products treat clothes, accessories, home products, and textiles to help people stay fresh, wash less and let clothes and products live longer. Over 300 global premium brands have chosen to use the Polygiene brand with their products. The addition of the British wholly owned subsidiary Addmaster Holdings Limited equipped the business to offer solutions for both soft and hard surfaces.
Entrepreneurs Hub Deal Leader, Mike O’Connor who led the transaction team comments: “It is always a privilege to work with an outstanding business but especially so when that business is led by such visionary owners. Nick Corlett and Huw Durban, founding shareholders of Radical Materials Limited, have built and developed a great business which is most widely known for the SteriTouch brand. Under their guidance and direction SteriTouch has established a strong presence within the antimicrobial sector, enjoying significant growth during the last 18 months. It has been a real pleasure to work with Nick and Huw. I am very confident that they have chosen a good home for the brand and that under the ownership of Polygiene AB, SteriTouch will continue to grow and flourish.”
Nick Corlett, one of the founders of Radical Materials Ltd observes: “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.”
Nick also commented on the work of Entrepreneurs Hub, writing: “This was the first time we had been through a business sale, and it would have been impossible without the support of EH. A fascinating but occasionally stressful process, it was made significantly more manageable by Mike’s expert, patient, and friendly guidance. We hope to work with EH and Mike again.”
“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 AB (publ).
Entrepreneurs Hub is a boutique corporate finance house – with hubs in London, Hampshire, Birmingham and Manchester. It was co-founded by Malcolm Murray and Andrew Shepperd. The company provides expert advice to business owners and shareholders to help them grow, prepare and sell their business for maximised value; and, very importantly, sell first time. They believe that proper preparation, quality research to highlight a choice of potential buyers and experienced negotiation skills will result in a successful outcome for their clients.
Contact: Malcolm Murray 07899 913 220 or Andrew Shepperd 07517 103 407
Email – [email protected]
Email – [email protected]