£23m Italian acquisition for Synergy Health bolsters its European operations

May 16, 2014
By

Synergy Health, the Swindon-based outsourced sterilisation services group, has strengthened its business across Europe with the acquisition of Italian firm Bioster for €29.0m (£23.6m).

Bioster operates ethylene oxide and electron beam sterilisation plants in Italy, Slovakia, and the Czech Republic, providing sterilisation services to the medical device, pharmaceutical and packaging industries. It also operates a hospital sterilisation services ('HSS') business in Italy.

Synergy said the acquisition would increase its capacity in Europe for customers using its core ethylene oxide and electron beam technologies. 

This will complement its network of applied sterilisation technologies (AST) facilities in Germany, Switzerland, France and the Netherlands with new presence in the Southern and Eastern European markets.

Last year Bioster had revenues of €20.2m (£16.4m), and pre-tax earnings of €2.6m (£2.1 m). It had gross assets of €24.8m (£20.2m).

Synergy is funding the acquisition out of its existing debt facilities.

Synergy chief executive Dr Richard Steeves said: “This acquisition further strengthens our position in Europe giving us broader geographical access to the medical device and pharmaceutical sterilisation markets in Southern and Eastern Europe.” 

 

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