Biotage Expands SPE Business to Additional Markets

Stockholm, Sweden 12/6/17—Separations technology firm Biotage has entered into an agreement acquire Horizon Technology for $18.4 million. Horizon Technology supplies separation systems and consumables for water purification, food safety, the petrochemical industry, biofuels, agriculture and the pharmaceutical industry, among others. Horizon Technology generated 2016 revenues of $8.2 million and EBITDA of $0.7 million. “The acquisition of Horizon is in line with our strategy to grow our separation business through expansion into new application areas. This transaction enables Horizon’s existing products to reach a larger global market through Biotage’s direct sales channels, at the same time as Biotage’s existing products get access to customers in industries where Biotage historically has not been as active,” stated Biotage CEO Torben Jörgensen. “The acquisition is complementary to our existing offering and allows us to meet the global trend of increasing awareness and concern of environmental issues, pollution and toxics.” The deal is expected to close in the first quarter of 2018.

The purchase will be funded with a bank loan and cash on hand. Horizon Discovery, which has 41 employees, provides SPE products. Serving the  for the environmental, food, petrochemical and energy markets, Horizon Discovery takes Biotage into new markets for SPE products. Currently, Biotage primarily offers such products for life science and pharmaceutical applications

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