Paragon Ventures is pleased to announce the acquisition of its international client, Seebreath by Addvise.
ADDvise Group AB has entered into a share purchase agreement with the owners of Seebreath AB (“Seebreath”) regarding the acquisition of all the outstanding shares of Seebreath.
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 ADDvise own funds. ADDvise acquisition will have a positive effect on ADDvise earnings per share during the financial year 2022.
Tony Marsallo, Managing Director for Paragon Ventures who managed the sale process for SeeBreath remarked, “With all of the focus on respiratory products throughout the Covid-19 pandemic, it was an honor to work with the owners of SeeBreath and bring their vital respiratory monitoring capabilities to an expanding worldwide market.”
About SeeBreath AB
Seebreath is dedicated to developing and producing colorimetric CO2-indicating products. The Company is Swedish and sells its products worldwide with an ISO 13485 certified manufacturing operation in Malaysia. The company has a vast collected experience of the technology and can support customers who intend to integrate Seebreath indicators into their own products.
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. Further information is available at www.addvisegroup.com.
The M&A market for healthcare companies continues to strengthen in 2022 with strategic corporate buyers and private equity investors. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
Do you know the current market value of your business? We do! We are here to help you plan, prepare, explore and succeed in executing your strategic options.
Contact Paragon Ventures for more information.
800-719-1555
