Nolato continues investment in medical technology – Acquires Cerbo Group AB
As part of the Nolato Group’s strategic investment in medical technology, Nolato on Monday acquired the medical technology company Cerbo Group AB.
“Cerbo Group is a market-leading developer and manufacturer of pharmaceutical packaging in polymer and paper-based material,” said Georg Brunstam, who is President and CEO of Nolato. “It’s a well-run company which fits in nicely with our growth strategy in the medical field.”
In 2007, Cerbo Group is expected to have sales of about SEK 350 million, with a pro forma EBITDA margin of more than 18 percent. The company has 236 employees in Trollhättan, Göteborg and Åstorp, Sweden and in Værlöse, Denmark, along with sales companies in Norway and Poland.
“The acquisition represents a further enhancement of our total offering to customers in medical technology and pharmaceuticals,” said Christer Wahlquist, who is head of the Nolato Medical business area. “With this acquisition, we see even more promising growth opportunities for Nolato Medical in Europe.”
The company has been acquired from the English investment company Vision Capital, and the purchase price is SEK 437 million (on a debt free basis). The acquisition is expected to have a positive impact on Nolato’s per share earnings from the day of takeover. Along with operations directed at pharmaceutical customers, the company also includes a small part oriented toward general industrial customers.