Scapa has bought EuroMed’s entire share capital for a
£24.2 million sum, with a possible further payment of just under £5 million based on how the company performs in the future. The Ashton-under-Lyne firm used its existing reserves of cash, alongside its available banking facilities, to finance the purchase.
The company’s group chief executive, Heejae Chae, stated that:
“The acquisition of EuroMed is another key step in the execution of our Healthcare strategy, to become the strategic outsourcing partner of choice for our global customers.”
He went on to add that EuroMed had developed a reputation for the delivery of technologies and products which are innovative and of high quality and that this would be beneficial to the customers of Scapa Healthcare.
EuroMed’s pre-amortisation, depreciation, taxation and interest revenue up to the end of last year totalled £1.7 million, based on £12.4 million in sales. The company develops and manufactures hydrocolloid products for wound care, for both consumer and advanced markets. Its existing team of managers will remain in place.
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