Antibacterial additives firm sold in £33m deal
Stafford-based supplier of antibacterial additives Addmaster has been bought by Swedish company Polygiene in a deal worth around £33m.
Addmaster, which supplies performance-enhancing additives for the plastic, paper, textiles, paints and coatings industry, will become part of the Swedish-owned company.
The acquisition brings together the Stafford firm’s expertise in antimicrobial technologies on hard surfaces with the parent group’s long-standing reputation in odour control and antiviral solutions for textiles.
The new owner has extended the lease on the Addmaster head office, signalling the intent to invest in the UK team.
Founder Paul Morris and managing director Sandrine Garnier will continue to lead Addmaster.
“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,” said Morris, who started Addmaster twenty years ago after borrowing £5,000 off his grandmother.
“We first started talking in 2005 when both companies were new entrants in the antimicrobial market and the relationship has strengthened from there, with our additives used by Polygiene for more than a decade now.”
He continued: “The global demand for antimicrobial solutions has been accelerated by the pandemic and we felt the time was right to come together as one organisation so that we can make the most of the worldwide desire for products and textiles that offer the best hygienic protection to the user.
“In addition to the obvious financial benefits, the deal gives us additional reach and the opportunity for our existing client base to make the most of experts on both polymer and textile applications, receiving industry-leading technical support in the process.”
Bracebridge Corporate Finance acted as corporate finance adviser on the deal. Head of corporate Adam McGiveron and acquisitions specialist Emma Bryant at Shakespeare Martineau supported Addmaster with the deal – advising on the sale contract.
