Bracebridge Corporate Finance has advised on the sale of Stafford based company Addmaster to Swedish company Polygiene for £33 million.
Addmaster is one of the UK’s leading suppliers of antibacterial additives. It supplies performance-enhancing additives for the plastic, paper, textiles, paints and coatings industry. The acquisition brings together Addmaster’s expertise in antimicrobial technologies on hard surfaces with Polygiene’s long-standing reputation in odour control and antiviral solutions for textiles.
Addmaster’s Biomaster technology, designed to prevent bacteria and viruses growing, has been in high demand and has been adopted in a diverse range of applications. In a recent development, the technology has also completed extensive testing and has been found to be effective on both porous and non-porous substrates against SARS-CoV-2, the virus that causes Covid-19. This means that Biomaster can give up to 99% protection just four hours after it has been added to products, preventing any bacteria or virus growing on everyday items.
Addmaster founder, Paul Morris said: “This is a fantastic deal for our business and gives us the financial backing and global resources we need to maximise the potential of our products, including the world-leading antimicrobial protection offered by Biomaster”.
Andy Moore, Managing Director at Bracebridge Corporate Finance commented: “We have worked with Addmaster over the last 3 years and have seen the business go from strength to strength. The sale to Polygiene is the result of many years hard work from Paul and his team. We advised the shareholders on the sale, project managing and negotiating the deal with Polygiene”.
Paul added: “Andy helped us to negotiate a deal which represents an excellent result for the shareholders and at the same time an excellent strategic opportunity for the buyer. He stuck with us and worked tirelessly from start to finish and was always responsive and available when needed. We could not have done the deal without him and one of the biggest lessons I have learned is how integral he was for the deal and I truly appreciate all the help from Bracebridge to help make this deal happen”.
Adam McGiveron and Emma Bryant of Shakespeare Martineau provided legal advice to the sellers.