Biolin Scientific acquires Sophion Bioscience
Ratos’s subsidiary Biolin Scientific has signed an agreement to acquire all the shares in the Danish company Sophion Bioscience A/S. The seller is NeuroSearch A/S and a number of venture capital companies. The purchase price (Enterprise Value) amounts to approximately DKK 145m with an additional DKK 10m which relates to sales milestones in 2011/12. Ratos will provide approximately SEK 50m in conjunction with the acquisition.
Sophion Bioscience is a Danish manufacturer of products and solutions for automated patch clamping (APC) and sells instruments, test plates and service. APC technology is used for studies of ion channels. This is a growing area within pharmaceutical research since the way ion channels function has a major impact on many diseases. Patch clamping technology was awarded the Nobel Prize in Medicine in 1991.
Sophion Bioscience is the market leader within its segment and customers include most major pharmaceutical companies. The company has 50 employees and global sales through its own sales team and distributors. The head office is in Copenhagen. In 2010 Sophion’s sales totalled DKK 83m with an operating profit (EBITA) of DKK 8m.
Biolin Scientific develops, manufactures and markets analytical instruments for research, development, quality control and clinical diagnostics. The company’s largest market niche is nanotechnology, primarily materials science and biophysics. Customers are found worldwide and mainly comprise researchers in academia, research institutes and the industrial sector. In 2010 Biolin’s sales totalled SEK 142m with an operating profit of SEK 12m.
“Biolin’s strength thus far has been within material science at the same time as we have made efforts to increase our presence within life science. Due to Sophion’s strong position within life science we will now be able to reach new customer groups. Sophion has good growth and a growing installed base of instruments which promotes sales of consumables,” comments Biolin Scientific’s CEO Jan Wahlström.
“We have a clear acquisition strategy for Biolin and have now completed an agreement with one of the companies at the top of our list,” says Ratos’s CEO Arne Karlsson.
The purchase price for the acquisition (Enterprise Value) amounts to approximately DKK 145m (SEK 175m) with the possibility of an additional DKK 10m which relates to sales milestones in 2011/12. Ratos will provide approximately SEK 50m. The acquisition is expected to be completed during the third quarter of 2011.
Ratos is a private equity conglomerate. The company’s mission is to maximise shareholder value over time through the professional, active and responsible exercise of its ownership role in primarily medium to large unlisted Nordic companies. Ratos’s holdings include AH Industries, Anticimex, Arcus-Gruppen, Biolin Scientific, Bisnode, Contex, DIAB, EuroMaint, Finnkino, GS-Hydro, Hafa Bathroom Group, HL Display, Inwido, Jøtul, KVD Kvarndammen, Lindab, Medisize, Mobile Climate Control, SB Seating and Stofa. Ratos is listed on Nasdaq OMX Stockholm, and its market capitalisation is approximately SEK 39 billion.
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.
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