Scapa Group Snaps Up US-Based Firm BioMed Laboratories

26th Mar 2018 08:48

LONDON (Alliance News) - Scapa Group PLC announced on Monday the purchase of Dallas-based company BioMed Laboratories LLC for a possible USD32.0 million.

Scapa, which makes bonding solutions and adhesive-based products, is to pay an initial USD19.0 million for BioMed. It could then pay a further USD13.0 million depending on BioMed's performance in calendar years 2018 and 2019.

BioMed makes gels, creams, lotions, liquids, powders, and hot-filled wax based products for the over-the-counter, wound care, and skin care markets, Scapa said.

In 2017, it posted underlying adjusted earnings before interest, tax, depreciation, and amortisation of USD1.4 million on revenue of USD10.2 million.

Scapa Chief Executive Heejae Chae commented: "The acquisition of BioMed, which further enhances our capabilities and takes us beyond the adhesive based value chain, is another key step in the execution of our healthcare strategy to be the single source for turn-key solutions to our global healthcare customers."

Shares in Scapa were trading at 485.00 pence each early on Monday, up 0.9%.

---

Related Shares:

SCPA.L