ADDvise completes the acquisition of MRC Systems FZE
ADDvise Group AB (publ) (”ADDvise”) has today completed the acquisition of all shares in MRC Systems FZE (”MRC”). The signing of the share purchase agreement has been communicated to the market via a press release on 16 February 2021. The total purchase price amounts to USD 8.00 million, of which USD 4.50 million has been paid in cash on closing and USD 0.50 million in the form of a non-recourse three-year promissory note. In addition, as previously communicated, the purchase price includes earn-outs of maximum USD 3 million in total, that can be paid out over a three-year period, given that the seller achieves certain predetermined targets. The acquisition is financed with own funds.
MRC develops and manufactures cleanrooms for the pharmaceutical industry and hospitals. MRC will be consolidated into ADDvise’s financial reporting as of 17 June 2021. The local management of MRC and its operational business structure will remain unchanged pursuant to ADDvise’s decentralized structure and the corporate governance of the group. ADDvise welcomes MRC to the group.
Mangold Fondkommission AB is the financial advisor to ADDvise in the acquisition.
For further information, please contact:
Rikard Akhtarzand, CEO
+46 765-25 90 71
This information is by ADDvise Group AB required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on 17 June 2021 at 10:30 CEST.
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. ADDvise Group's shares are listed on Nasdaq First North Growth Market and Mangold Fondkommission AB, +46 8 503 015 50, CA@mangold.se,is the Company's Certified Adviser. Additional information is available at www.addvisegroup.se.