Vimian Group acquires leading UK company within veterinary surgical products
Vimian Group today announces signing of the acquisition of Freelance Surgical, one of the leading providers of veterinary surgical products in the United Kingdom. Freelance Surgical has 17 employees and revenues of around GBP 6 million on an annual basis.
Vimian Group AB (publ) (“Vimian Group”) has today signed an agreement to acquire Freelance Surgical. Founded in 1987, Freelance Surgical is a family-owned business based in Bristol, UK, that distributes and markets high-quality surgical products for the British veterinary market. The company serves 1,500 veterinary clinics across the UK with orthopaedic implants as well as other surgical products. In addition to distribution of surgical products, Freelance Surgical offers trainings for veterinarians in a newly built facility in Bristol.
Freelance Surgical will form part of Movora, the operating company within Vimian Group’s MedTech segment.
“The acquisition of Freelance Surgical marks an important milestone in our strategy to establish direct sales in certain key markets around the world. We have been working together with the Freelance Surgical team over the past five years and the acquisition is a natural next step in our relationship to accelerate sales in this large and growing veterinary market”, says Fredrik Ullman, CEO Vimian Group.
“We look forward to join Vimian Group and continue to grow and develop our business in an entrepreneurial environment”, says James Towler co-founder, Freelance Surgical.
The acquisition will have a marginal impact on Vimian Group’s earnings per share in the current financial year and closing is subject to customary closing conditions. The acquisition is financed with available funds as well as an issue in kind of a total of 148,394 shares, comprising of 74,197 ordinary shares and 74,197 class C shares, to the selling management as a reinvestment in Vimian Group. The total number of shares in Vimian Group following completion of the acquisition will amount to 389,210,290, of which 364,389,685 ordinary shares and 24,820,605 class C shares. Freelance Surgical is expected to be consolidated into Vimian Group from December 1, 2021.
For further information, please contact:
Maria Dahllöf Tullberg
Head of IR & Communications
+46 736 26 88 86
About Vimian
Vimian is a global, fast-growing group of innovation-driven companies with a shared passion for making a positive impact through improving animal health. Together, we put science, technology and our customers’ needs at the centre of everything we do to deliver effective solutions to veterinary professionals, labs and pet parents around the world. We bring together pioneering and entrepreneurial businesses in animal health, with an aim to create a uniquely diversified proposition of products and services of the highest standard. Our group covers four essential and rapidly evolving areas within animal health: Specialty Pharma, Diagnostics, Veterinary Services and MedTech. Vimian provides individual businesses with access to our networks, expertise, infrastructure and capital to accelerate innovation and growth. We are as passionate about supporting leadership within our existing businesses, as we are about welcoming new partners to the Vimian family – together helping us make an even greater impact by improving animal health. Headquartered in Stockholm, Sweden, Vimian and our family of companies reach over 15,000 customers in +150 markets, employ more than 450 people and have a combined annual turnover of approximately EUR 140 million. FNCA Sweden AB is appointed the Company’s Certified Adviser, info@fnca.se, +46 (0) 8-528 00 399. For more information, please visit:www.vimian.com.
