HEALTHCARE EQUIPMENT MAKER SNAPPED UP
30 Jan 2017 Yorkshire
Healthcare equipment maker snapped up
A specialist healthcare equipment manufacturer headquartered in Bradford has been acquired by Swedish engineering group Indutrade in a deal supported by M&A advisory firm BCMS.
Sunflower Medical has been bought by Indutrade subsidiary ESI Process (UK) Ltd, which is headquartered in Cwmbran, Wales.
Founded in 2003 by three entrepreneurs, Sunflower Medical is a major supplier to NHS hospitals, doctors' surgeries and clinics. It also exports to the Middle East, Africa and Asia.
Stockholm-listed Indutrade has acquired more than 200 companies in its 40-year history, but this is the first time it has diversified into the UK medical products market.
ESI chief executive Morgan O'Brien said: "Sunflower Medical is a fast-growing and well-managed company, and so will fit in with our portfolio very well. We're excited to have made our debut acquisition in healthcare, and we will be helping the management team develop its international footprint in the near future."
Sunflower managing director Marc Byrnes added: "We have enjoyed growing the business to this stage, but with the international business really picking up now, we are keen to join a larger group with a significant overseas presence to help us scale up quickly.
"All the staff and my fellow directors are looking forward to the next chapter in our journey."
BCMS acted as financial adviser to the Sunflower shareholders.
"Sunflower is as an innovative designer-manufacturer and a leader in its field, so joining with Indutrade will allow for further development of its product capability and international reach," said BCMS' Mac Edwards.
"There are significant market opportunities in medical products, and Sunflower has a very exciting future within the Indutrade family.
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