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Benchmark International Successfully Facilitated the Transaction Between Labplan Limited and ADDvise AB Group
January 3, 2024
Benchmark International is pleased to announce the acquisition of County Kildare-based Labplan by Swedish-based ADDvise.
Labplan is a leading distributor of life science and analytical laboratory instruments, specialising in consulting sales, commissioning, product training, technical support, preventative maintenance, and breakdown repair services. The company serves large multi-national pharma companies as well as government-backed research institutions in Ireland and Northern Ireland.
Labplan’s revenue for the last twelve months per October 31, 2023, amounted to EUR 16.9 million, with an adjusted EBITDA of EUR 3.9 million.
Listed on Nasdaq First North Premier, ADDvise is a leading supplier of equipment and services to healthcare and research facilities. The company’s growth is driven largely by an acquisition strategy following geographic and product vectors.
The acquisition will be consummated at an initial cash consideration of EUR 13.3 million, and performance-based payments expected to amount to EUR 7.2 million in aggregate over a two-year period.
Sam McNamee, Director at Benchmark International said: “This is a perfect opportunity for ADDvise to not just grow through acquisition, but also to expand into the Irish market via a company that has very attractive qualities. We are excited to see the positive impact this acquisition will have on these two companies and wish all the best to both parties going forward.”
This is the third deal conducted via Benchmark International for ADDvise, following the acquisitions of Southern Life Systems, Inc and Poly Pharmaceuticals, Inc.
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