UK antibacterial additive supplier, Addmaster, has been sold to Polygiene for $44.5m, with the support of Midlands-based Shakespeare Martineau and Bracebridge Corporate Finance.
The acquisition aims to bring together Addmaster’s antimicrobial technologies on hard surfaces with Polygiene’s odour control and antiviral solutions for textiles.
Addmaster’s Biomaster technology has reportedly been found to be effective on both porous and non-porous substrates against SARS-CoV-2. The company claims Biomaster can give up to 99% protection four hours after it has been added to products, preventing any bacteria or virus growing on everyday items.
Addmaster founder, Paul Morris said: “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.”
Andy Moore, MD at Bracebridge Corporate Finance commented: “We have worked with Addmaster over the last 3 years and have seen the business go from strength to strength. The sale to Polygiene is the result of many years’ hard work from Paul and his team. We advised the shareholders on the sale, project managing and negotiating the deal with Polygiene, working closely with Shakespeare Martineau on the legal aspects.”
