Swedish industrial giant enters healthcare market with Sunflower Medical acquisition
Swedish engineering group Indutrade has moved into the UK healthcare manufacturing market after acquiring Sunflower Medical through its subsidiary ESI Process (UK) Limited – in a deal advised by BCMS.
Leading specialist equipment manufacturer Sunflower Medical is a major supplier to NHS hospitals, doctors’ surgeries and clinics. Founded in Bradford UK in 2003 by three entrepreneurs, the firm 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 CEO – 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 advisor to the Sunflower shareholders. The terms and value of the deal are undisclosed.
BCMS Deal Leader Mac Edwards commented: “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. There are significant market opportunities in medical products, and Sunflower has a very exciting future within the Indutrade family.”
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