Setterwalls has assisted Polygiene AB (“Polygiene”) in connection with the acquisition of the UK based additive company Addmaster Holdings Limited. In connection with the acquisition, Polygiene has also carried out a directed share issue of approximately SEK 280 million to a number of Swedish and international investors.
The acquisition encompassed all outstanding shares in Addmaster Holdings Limited, a leading global supplier of antibacterial additives for hard surfaces. The purchase price in the acquisition amounted to a total of approximately SEK 374 million, which was paid partly through approximately SEK 249 million in cash, partly through an issue in kind of new issued shares in Polygiene, corresponding to a value of approximately SEK 125 million.
As part of the financing of the acquisition, Polygiene has carried out a private placement of approximately SEK 280 million through a directed share issue of approximately 10.3 million shares at a price of SEK 27.30 per share. The share issue was directed to a number of Swedish and international investors and the subscription price was determined through an accelerated bookbuilding procedure.
Polygiene is a world-leading supplier of odor control and stays fresh technologies for clothing, equipment and other materials. Polygiene is headquartered in Malmö, Sweden, and is listed on Nasdaq First North Growth Market. For further information about the acquisition and Polygiene, please refer to the company’s website.