Sweden-based company Polygiene has announced that it is purchasing British Addmaster Holdings Limited, located in Stafford and one of the UK’s leading suppliers of antibacterial additives, making it a comprehensive supplier of antimicrobial solutions for both soft and hard surfaces. On one of the last days of the year, an extraordinary general meeting voted in favor of Polygiene’s acquisition of Addmaster Holdings Limited at a purchase price of EUR 36.6 million (SEK 374 million or GBP 33 million).
Addmaster brings to the deal its expertise in antimicrobial technologies on hard surfaces, such as floors, door handles and kitchen and bathroom fittings in public spaces, which complements Polygiene’s current range of odour control and antiviral solutions for textiles. The acquisition will enable the company to offer the market a comprehensive solution of antimicrobial functions, said Ulrika Björk, CEO of Polygiene, which was established following the 2004 SARS pandemic through a spin-off from the Perstorp Group.
“Our vision is to fundamentally transform the industry, partly by encouraging consumers to change their behavior and wash less, and partly by getting the industry to adopt our functions and by doing so be part of building an eco-friendly society with an approach to consumption that is more sustainable in the long term.”
For Björk, the transaction represents a milestone that, from a strategic perspective, is completely ‘logical given the great synergies that exist between the companies’.
“Through the acquisition, we can strengthen our position in the market with a much broader offering, which will accelerate our already strong growth,” she said.
According to Addmaster, the new owners have extended the lease on the Addmaster head office, signalling the intent to invest in the UK team.