Tristel acquires European medical waste outfit
AIM-listed infection control company Tristel has acquired European medical waste outfit Ecomed Services for a total consideration of €5m.
FTSE AIM All-Share
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16:50 25/04/24
Health Care Equipment & Services
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Tristel
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16:55 25/04/24
Tristel made the move to acquire Ecomed, its exclusive distributor in Belgium, the Netherlands, Luxembourg and France, after seeing "strong growth" in the firm during recent years.
Ecomed recorded sales of €3.07m in its last trading year, €2.54m of which were Tristel products, and recorded an EBITDA of €570,000 in the six months ended 30 June.
Tristel anticipates the business will contribute incremental earnings of at least £250,000 after transaction and integration costs in its current financial year.
To complete the acquisition, Tristel will pay €3.4m in cash and €1.6m via the issue of 573,860 new ordinary shares of 242.7p per share. An additional deferred consideration of up to €1.8m may be paid if the business' final audited EBITDA for the 2018 calendar year exceeds €840,000.
As of 1020 GMT, Tristel shares had moved ahead 3.74% to 236p.