OrganoClick finalises acquisition of Biokleen Miljökemi
OrganoClick AB (publ) has finalised the acquisition of 100 % of the shares in Biokleen Miljökemi AB. With the acquisition, OrganoClick's revenue increases (pro-forma) with approximately SEK 23 million and adds a complementary product portfolio of eco-labeled cleaning and maintanance products for roofs, facades and deckings.
For the shares in Biokleen Miljökemi, OrganoClick pays SEK 16 million of which SEK 4.75 million is paid by a non-cash emission of shares according to a resolution at OrganoClick's extraordinary general meeting the 19th December 2016. The remaining cash payment of SEK 11.25 million has been financed by a bank loan from Den Danske Bank of SEK 8 million and a directed equity issue of SEK 3,72 million to key personnel in OrganoClick and Biokleen Miljökemi. The revenue and result of Biokleen Miljökemi will be presented (pro-forma) in OrganoClick's interim report for Q4 2016 and will be totally consolidated in OrganoClicks interim report Q1 2017.
For questions, please contact
Mårten Hellberg, CEO OrganoClick AB, phone: +46 (0)8-684 001 10
About OrganoClick
OrganoClick AB (publ) is a Swedish cleantech company listed on Nasdaq First North that develops, produces and markets functional materials based on environmentally friendly fiber chemistry. Examples of products that are marketed by OrganoClick are the water repellent fabric treatment OrganoTex®, the flame and rot timber protectant OrganoWood® (through the subsidiary company OrganoWood AB) and biobased binders for non-woven materials.OrganoClick was founded in 2006 as a commercial spinoff company based on academic research examining the modification of biofibers performed at Stockholm University and the Swedish University of Agricultural Sciences. OrganoClick has won several prizes and has been designated “Sweden's most promising start-up company”, Sweden's best environmental innovation and has appeared on the Affärsvärldens och NyTekniks top 33 list of “Sweden's hottest technology companies”. The company has also received a number of awards, such as The Worldwide Fund for Nature (WWF) “Climate Solver” award. OrganoClick’s headquarters are in Täby, north of Stockholm, where the company's production, R&D, sales and marketing departments are located. OrganoClick's Certified Adviser on Nasdaq First North is Erik Penser Bank.
The information in this press release contains information that OrganoClick AB (publ) is obliged to release according to the EU's market regulation law number 596/2014. The information was published, of the contact person above, 30 December at 8:30.