August 15, 2022
Translink Corporate Finance in Norway (Synergos) and Sweden (Anecta), acted as the exclusive advisors to Minitech AS on the 100% sale to Eitrium.
Based in Hamar, Minitech AS develops and manufactures medical heating products for institutions and orthopedic clinics within the public as well as the private sector, primarily in Norway but also in other Nordic countries. The products consist of heat regulating clothing items and are certified in accordance with the Medical Device Directive. Minitech AS developed a market leading company and generated sales of NOK 27 million and EBITDA of NOK 7 million in 2021.
“Minitech is a well-managed group in a stable market with very few competitors that are driven by the need for heating aid. We are taking over a business in extremely good condition that is well run, and we intend to continue the already established path. I look forward to Minitech’s continued development with Eitrium as owner,” says Per Brugge, CEO of Eitrium.
“We have had interest from several other parties who wanted to acquire the company, but have gained a lot of trust in Eitrium and see a great potential to, with the help of a new owner, grow our company in other untapped segments of the market,” said Kjetil Aasbakken, CEO of Minitech AS.
Contact our Team Members advising in this transaction:
Synergos is an exclusive partner in Norway for Translink Corporate Finance, a global network of M&A advisory firms with over 300 advisers in 35 countries around the world. Our network is unique for companies with international interest and a critical differentiator, which provides us with an unmatched reach, local knowledge, and relationships.
Anecta Translink, our partner in Sweden, is a M&A advisor working with national and cross-border transactions. The company’s success in this segment is based on a wide industrial network and the fact that many of the team members have backgrounds as executives in Swedish industrials.