STOCKHOLM, Jan. 11, 2021 /PRNewswire/ -- Sweden-based company Polygiene buys British Addmaster Holdings Limited, making it a comprehensive supplier of antimicrobial solutions for both soft and hard surfaces. On one of the last days of the year, an extraordinary general meeting voted in favor of Polygiene's acquisition of Addmaster Holdings Limited at a purchase price of SEK 374 million.
"It's great to have the backing of the EGM. We can now focus on merging the two companies and getting the organization established. The acquisition will allow us to offer the market a comprehensive solution of antimicrobial functions for both soft surfaces such as textiles and hard surfaces such as floors, handles, kitchen and bathroom fittings in public spaces. This reduces the need for washing and cleaning, therefore lessens our environmental impact," comments Ulrika Björk, CEO of Polygiene, which was established following the 2004 SARS pandemic through a spin-off from the Perstorp Group.
Of Polygiene's antimicrobial and odor management products ViralOff, BioStatic and OdorCrunch, the former, launched in the spring, has performed the best. This comes as no surprise, since according to an ISO standard it is over 99 percent effective at breaking down viruses such as SARS-CoV-2, which causes the disease COVID-19, within two hours.
"Our vision is to fundamentally transform the industry, partly by encouraging consumers to change their behavior and wash less, and partly by getting the industry to adopt our functions and by doing so be part of building an eco-friendly society with an approach to consumption that is more sustainable in the long term. The market is vast and is expected to grow from USD 10 billion to USD 20 billion over the next five years on a global scale*. We want to be an important and active player in this development, and we hope the industry will come on board, particularly now that our offering is even more extensive."
Paul Morris, Founder of Addmaster adds, "It's a very exciting time being part of bringing together two major players in the antimicrobial industry and creating a powerhouse capable of dominating the industry by being the provider of all solutions for all applications. Utilizing the brand power of companies, will significantly enhance the value proposition of antimicrobial protection to our clients, when the public are so educated in the need for hygienic protection and demand is so high."
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About Addmaster
Addmaster (UK) Ltd is Europe's leading supplier of high performance, technically innovative additives to the plastics, textile, paper, paints and coatings industries. We provide additive masterbatches, liquid or powder dispersions for any application. Biomaster Antimicrobial Technology and Biomaster Protected are Registered Trademarks of Addmaster (UK) Ltd. Biomaster Protected products are tested to ISO standards and are proven to be effective against over most common types of harmful bacteria and specific viruses including SARS-CoV-2. For more information about Addmaster or Biomaster Antimicrobial Protection call: +44 (0) 1785 225656 or visit www.addmaster.co.uk.
Press contacts:
Paul Morris
Founder Addmaster
paul.morris@addmaster.co.uk
+44 (0) 7989 398281
Ulrika Bjork
CEO Polygiene
ubj@polygiene.com
+46 (0)70-921 12 75
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*https://www.gminsights.com/industry-analysis/antimicrobial-textiles-market
About Polygiene
As the world leader in stays fresh technologies, we want to change the way we view products - from fast consumables to durables. We treat clothes, accessories, home products, and textiles to help people stay fresh, wash less and let clothes and products live longer. Over 200 global premium brands have chosen to use the Polygiene brand with their products. Polygiene is listed on Nasdaq First North Growth Market in Stockholm, Sweden. For more information: polygiene.com
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